Elvis, a rather ignorant post if I may say so. Rangers and Celtic have both appeared in European finals recently, albeit the lesser UEFA Cup, but that hardly consitututes joke football when it's good enough for Porto and Atletico Madrid. Scottish football is not as good as it was, granted, but it isn't as bad as you seem to think. Take away the top 5/6 in England and you don't really have a lot to offer there either, and where would they all be without the Sky money?
As for the demotion issue; Rangers probably should go down to the Third Division, (I would take out my season ticket again after a lapse of four years if they did), and stick two fingers up to the SFA at the same time because the lucrative Sky deal will go with them. Sky have four OF games written into their contract and, without those games, there is no deal.
I agree unreservedly that Rangers need to be punished, but people are appearing out of the woodwork in all directions to stick the knives in, and the extreme suggestions, such as witholding 75% of moneys and a rolling three year points deduction of fiteen points are draconian. There is a precedent of relegation, (Livingston), but Motherwell and Dundee weren't demoted when they went into administration.
As a newco I think the Third Division is the best option, and the most honourable course for the club, although I fear we could be playing at Benburb rather than Ibrox.