Why Euro demotion could be good for Scottish football

It has been a difficult season for Scottish football. With the financial crisis that engulfed the world also hitting the SPL, clubs have entered into a period of austerity in order to survive.

This is even the case at the very top - Rangers are in the red to the tune of around £30 million and haven't signed a player for more than a year, while Celtic's failure to make the Champions League group stages meant new boss Tony Mowbray has had some belt tightening to do since his arrival last summer.

To be fair to Mowbray the football betting suggested his side had little chance of beating Arsenal, but the financial impact was massive.

It is a strange situation for them to be in. The two Glasgow clubs have long lauded it over the rest of the league, both on and off the pitch. Their attendances and finances are sky high compared to the other sides and there hasn't been a non-Old Firm winner of the title since Aberdeen in 1985. As such they have monopolised the two places on offer into the lucrative Champions League and the pot of gold that comes with it.

With league success virtually assured each season they have constantly over-stretched themselves in an attempt to reach the knockout stages of Europe's premier competition to bring even more cash in.

But repeated failures to do so meant the gamble didn't pay off and as football's economy crumbled their debts were called in.

The most recent kick in the teeth came with the news that poor performances in Europe by Scottish sides has seen their UEFA Co-efficient ranking drop from 15th to 16th, meaning they lose their second Champions League spot. With the SPL Champions having to face three qualifying round just to get to the group stages anyway the Old Firm could be without the Champions League cash for a very long time.

But is this a bad thing?

Both Celtic and Rangers have constantly looked to increase their riches by leaving the SPL, either by joining the Premier League or forming a North Atlantic league with clubs from other smaller leagues.

This would have been the death knell for the Scottish league, which would almost certainly lose many of its members to amateur football should the Old Firm quit.

But instead this ruling will force the Old Firm to cut their cloth accordingly. Yes they may have bigger turnovers due to their large attendances but there is a much more level playing field now. The likes of Hibs and Dundee United are threatening the top two's dominance which has been unmoved for 25 years - surely that is a good thing?

The more competitive the league the more interesting it becomes, which will stimulate interest among fans and TV watchers once more.

Celtic and Rangers have ridden on the crest of a financial wave for too long now and consistently bought their way to SPL dominance. This latest blow may hurt the most, but in the long term it could save the league from extinction.

Meanwhile, the Scottish Premier League betting suggests Rangers have all but sealed this year's title. They are seven points clear of Celtic with a game in hand.