Before news broke that Rangers were intending to go into administration, Celtic chief executive Peter Lawwell - speaking after the publication of the club's interim results - insisted that Celtic did not need Rangers.
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However, I would have to disagree with Mr Lawwell. While Celtic may be able to survive without Rangers, the level of their existence would be different to that of Celtic Football Club presently.
With no real competition in the Scottish Premier League, Celtic would stroll towards the title year on year, something that would keep Celtic fans happy given access to the Champions League qualifiers, but I know personally I would miss the Old Firm derbies - arguably the greatest derby in the world.
I know that many who read this article would differ from my view but let's take a look at a number of points:
1) £80 million. Sky and ESPN have signed a TV rights deal with SPL to the tune of £80 million over the course of five years kicking off in season 2012/13.
Without a strong title battle between Celtic and Rangers, then Sky and ESPN would seriously reconsider this TV rights package, even more so if it is written in black and white that the £80 million is based on covering all four Old Firm derby games.
So with no Old Firm derby games, Sky and ESPN could ultimately rip up the £80 million contract and then take one of two decisions - firstly they could just walk away from the coverage of the SPL and leave Scotland's top league to its own devices, secondly they could offer a much reduced package which would at best guess be less than £10 million.
2) Attendances. The lack of Rangers fans at Celtic Park would not be a massive dent to Celtic Football Club financially, but the lack of four Old Firm derby games would hit the purse strings somewhat - however the club have been working within their means or at least within a 'safe zone' of debt since the days of Fergus McCann. Although this was somewhat flouted under the Martin O'Neill years.
The lack of ticket sales to Rangers fans would damage the other clubs in the SPL though. The clubs would lose a six figure sum for every game that Rangers are not in attendance. For most clubs that would be a final death nail in their coffins, unless they themselves go down the road of further cost cutting - although some clubs are already on the bread line and any further cuts would see them no better than Second or Third Division clubs. How many clubs that are currently swimming just above water, would either sink or have to go part time?
Would the fans turn out as they do now at Celtic Park, knowing that they would easily win the title? Would they turn out for games against Inverness, Motherwell and St.Mirren? Certainly a Glasgow derby of Celtic v Partick Thistle would not hold as much of a draw as Celtic v Rangers would, obviously.
While Celtic would survive without a Rangers Football Club, the club would not need to splash the cash to bring players in of a quality that the club currently have or have had over the years.
Remember the days of Carl Muggleton and Wayne Biggins? There certainly would be no Gary Hooper, Beram Kayal, James Forrest and co. at Celtic without a Rangers side. With the English Premier League looking an even more attractive proposition than it is currently to the players.
Now Rangers MUST be sanctioned when they go into administration, and will be duly hit with a ten point deduction by the SPL. If Rangers go into liquidation and a Newco emerges, then such a club should not be given access to the SPL it should start in the Third Division and work its way up – it's only fair to keep the integrity of Scottish Football intact.
While many Celtic fans will be celebrating over their beers or jelly and ice cream, the bigger picture is there for all to see - if they want to see it that is. Celtic need Rangers to push themselves to strive for better.
Anyone who has worked out in gyms or by pounding the streets will know that running alongside someone else gives you more of an impetus to work harder than you would do if running by yourself. Without Rangers, Celtic would not need to try as hard.