Between them the two clubs have won 109 [[List of Scottish football champions|Scottish League championships]] (Rangers with 55 and Celtic with 54),<ref name=champions>{{cite web|title=Scotland – List of Champions – Summary|url=https://www.rsssf.org/tabless/scotchamp.html|publisher=Rec.Sport.Soccer Statistics Foundation|access-date=14 March 2016|archive-date=22 September 2008|archive-url=https://web.archive.org/web/20080922133240/http://www.rsssf.com/tabless/scotchamp.html#sall|url-status=live}}</ref> 76 [[Scottish Cup]]s (Celtic with 42 and Rangers with 34),<ref name=scottishcup>{{cite web|title=Scotland – List of Cup Finals – Summary|url=https://www.rsssf.org/tabless/scotcuphist.html|publisher=Rec.Sport.Soccer Statistics Foundation|access-date=16 March 2016|archive-date=14 May 2019|archive-url=https://web.archive.org/web/20190514174724/http://rsssf.com/tabless/scotcuphist.html#sall|url-status=live}}</ref> and 49 [[Scottish League Cup]]s (Rangers with 28 and Celtic with 21).<ref name=leaguecup>{{cite web|title=Scotland – List of League Cup Finals – Summary|url=https://www.rsssf.org/tabless/scotleagcuphist.html|publisher=Rec.Sport.Soccer Statistics Foundation|access-date=16 March 2016|archive-date=31 October 2013|archive-url=https://web.archive.org/web/20131031174636/http://rsssf.com/tabless/scotleagcuphist.html#sum|url-status=live}}</ref> Interruptions to their ascendancy have occurred rarely, mainly in the two decades after the Second World War from 1946 to 1965 when five other clubs won the league, and in the first half of the 1980s with the challenge of the [[New Firm (Scotland)|New Firm]] of [[Aberdeen F.C.|Aberdeen]] and [[Dundee United F.C.|Dundee United]]. Since the [[1985–86 in Scottish football|1985–86 season]], one half of the Old Firm has won the [[Scottish Premier League|Scottish League]] every season, and in all but [[2005–06 Scottish Premier League|one]] of seventeen seasons between [[1995–96 in Scottish football|1995–96]] and [[2011–12 in Scottish football|2011–12]], both clubs finished in the top two places.

 

In the early 2010s, Rangers [[Administration and liquidation of The Rangers Football Club plc|endured financial difficulties, and its holding company was liquidated in 2012]]. Subsequently, the team had to apply for entry to the bottom (fourth) tier of the Scottish league. As a result of the liquidation, many Celtic supporters maintain that the current Rangers is distinct from the pre-2012 club, and the rivalry no longer exists under the Old Firm identity. Instead, they (and often Celtic themselves) use the more generic term '''Glasgow Derby''' to refer to the rivalry.<ref name=demise/><ref name=define/><ref name="SMH22"/><ref>[https://www.goal.com/en-gb/news/why-is-celtic-vs-rangers-called-the-old-firm-derby/2i9ekbdius7e10xt04lrg85s0 Why is Celtic vs Rangers called the Old Firm derby?] {{Webarchive|url=https://web.archive.org/web/20220401140030/https://www.goal.com/en-gb/news/why-is-celtic-vs-rangers-called-the-old-firm-derby/2i9ekbdius7e10xt04lrg85s0 |date=1 April 2022 }}, Goal.com, 27 January 2022. Retrieved 1 April 2022</ref> While Rangers climbed back through the divisions, Celtic were champions in each of the next nine campaigns; Rangers won the title in [[2020–21 Scottish Premiership|2020–21]] to prevent a tenth for Celtic, which would have [[Nine in a row|beaten a record]] set by them in the 1960s/70s and matched by Rangers in the 1980s/90s.

 

The clubs have large fan bases around Glasgow and Scotland and have supporters clubs in many towns throughout Scotland and Northern Ireland and in cities around the world. In 2005 the presence of Rangers and Celtic was estimated to be worth £120 million to the [[Economy of Scotland|Scottish economy]] each year.<ref>{{cite news|title=Old Firm on the ball for economy|url=http://news.bbc.co.uk/1/hi/scotland/4635535.stm|work=BBC News|date=29 June 2005|access-date=29 June 2005|archive-date=27 May 2012|archive-url=https://archive.today/20120527001857/http://news.bbc.co.uk/1/hi/scotland/4635535.stm|url-status=live}}</ref>

 

==Origin of 'Old Firm'==