THE displays of the Rangers team on the park this season and the boardroom stability which now exists at Ibrox have been a relief to their supporters after so many years of struggle and uncertainty.

Yet, Rangers are by no means over the serious financial problems and myriad off-field matters which have blighted them during the last few years. Not by a long way.

Dave King, the major shareholder and chairman, underlined that as he spoke to the media again last week about the wide range of complex issues which the Ladbrokes Championship leaders continue to wrestle with.

King confirmed Rangers would, despite the sharp upturn in season tickets sales and dramatic rise in attendances at home games, not have enough money to sustain them for the duration of the 2015/16 campaign.

The shortfall will need to be met by either himself or by members of the so-called Three Bears consortium, a group which comprises wealthy fans George Letham, Douglas Park and George Taylor, once again. That, though, was widely anticipated.

The Johannesburg-based businessman’s revelation that there is a desire among the current directors to, at some stage in the future, take the oldco company out of liquidation and place the assets back into its control was not.

Doing so would, King suggested, go a long way towards silencing the incessant jibes about Rangers being a new club by followers of their rivals. “It is not economically important,” he said. “I just think it would be a good thing to do.”

Are the previous actions and ongoing claims of those who have occupied positions of authority at Rangers in the past – those individuals who required heavy police guards to escort them to and from court earlier this month – in any way responsible for this move to resurrect oldco? It is unclear.

Rangers remains, even to those who have now assumed power, a riddle wrapped in a mystery inside an enigma. Everyone connected with the Ibrox club is hoping the impending legal cases may shed at least a sliver of light on some of what transpired and finally bring closure to what has been an unsettling period.

Among those who would also be grateful for a long overdue cessation of the turmoil are, it is not being presumptuous to state, Peter Lawwell, the Celtic chief executive, and Dermot Desmond, the major shareholder.

The financial performance of the Parkhead outfit in the absence of the other major club in Glasgow from the top flight of Scottish football continues to impress greatly.

The Scottish champions announced an annual loss of £3.6 million on Friday. However, the sale of Adam Matthews and Virgil van Dijk to English Premier League clubs Sunderland and Southampton respectively in the summer will ensure that is not the case when their next annual results are released.

Those transactions were the latest exceptional pieces of business conducted by Celtic. Fraser Forster (£10 million), Gary Hooper (£5.5 million), Matthews (£2 million), Van Dijk (£13 million), Victor Wanyama (£12.5 million) and Kelvin Wilson (£2.5 million) have all been sold for a combined profit in excess of £27 million in the last two seasons after they had given distinguished service to their employers.

In amongst all of those shrewd acquisitions there have been flops. The likes of Amido Balde, Mo Bangura, Teemu Pukki and Stefan Scepovic, for example, disappeared almost as quickly as they arrived after being unable to establish themselves.

But, by and large, the scouting network headed by John Park has worked wonders. It was no surprise when the club across the city unashamedly sought to copy their recruitment policy when they were rebuilding this summer by bringing in young players with potential who will have residual value if they do well.

There are still, too, a few individuals on the books at Celtic who could be offloaded for sizeable sums. Nir Bitton will certainly command a substantial fee should he express the desire to move on to England or elsewhere in Europe. So could Stefan Johansen, if he rediscovers his form.

Still, should Rangers maintain their current run, win the second tier title and clinch promotion it will make Celtic’s commendable efforts to live within their means far easier than they are at the moment.

Depending on success in the transfer market and relying on qualification for the lucrative Champions League group stages in order to break even is, in the unprecedented circumstances, understandable. But it remains a fragile economic plan.

“We could have lost £10 million a year, quite easily, on the back of Rangers going down," said Lawwell last year. “It is difficult to plan with the uncertainties. We don't think the strategy is flawless."

Increased takings from advertising, broadcasting rights, merchandise and season ticket sales and sponsorship – and more money will instantly be generated in these areas if there is a meaningful challenge to their domestic supremacy by their traditional rivals once again – would be warmly welcomed by those who oversee business affairs at Celtic.

Their fans, though many would not openly admit it, would relish the prospect of doing battle with the opponents they love to hate and, deep down, have missed the presence of during these last three years.