Portrayed publicly, and frequently, as an ogre in Scottish society, and with the Rangers support regularly being dehumanised by professional bigots, Scotland's major sporting institution appears to have been the target of an orchestrated campaign to undermine and humiliate it - maybe even destroy it.
The financial side of the club, in part due to being enmeshed within Sir David Murray's business empire, has been a mess, and the bank has been hovering with intent while Walter Smith sent his team out to keep the blue flag flying.
The stark bread and water diet at Ibrox has contrasted unfavourably with second helpings regularly being devoured across the city at Parkhead, where black rather than red ink has been more commonly in use in the club accounts.
These last few years have been an uphill struggle for Rangers, and Celtic should really have been freewheeling to some easy titles, but it hasn't happened.
Despite the difficulties that have befallen Rangers, the team on the park has remained focussed and determined, and the small squad at Ibrox has put the larger squad at Celtic in its place three years in succession in the title chase: second place.
Celtic has been presented with an open goal due to Rangers poor financial performance, and yet it can't seem to hit a cow's posterior with a five-string banjo.
Managers and players come and go at Celtic, but still it remains in its historic role as the lesser light In the Old Firm partnership.
Rangers has proved to be a tougher nut to crack than was foreseen, and now new ownership has settled in at the club. Finally, there is a few bob in the kitty to acquire some new blood, and Celtic has missed a rare and golden chance to do irreparable damage to its most bitter rival.
In the years to come, Celtic may look back on this era and wonder what might have been. An opportunity presented itself and Celtic's best shot ended up in orbit alongside that famous Dixie Deans penalty.
Rangers are back, and this time, they'll be taking no prisoners as they chase every prize the game has to offer.
You have been warned, Celtic.
We shall not be moved.