Alastair Johnston has explained to BBC Scotland how Dave King’s takeover of Rangers will be beneficial to Celtic.
The consortium consisting of King, Paul Murray and John Gilligan was voted on to the Rangers board on Friday, as confirmed on the club’s official website.
"I think this will help Celtic," former Rangers chairman Johnston told BBC Scotland. "It gets competition back in there and that's what's good for Scottish football. Once the club recovers, which it will do, it is not only great for Rangers Football Club.
“I've talked a lot to (major Celtic financier) Dermot Desmond over the years and, without breaching any discussions, it's not been in Celtic's best interests from a business standpoint and their ability to invest.
"I think that, deep down, Dermot will be very happy today. I am not speaking for him. That's my opinion."
Is Alastair Johnston right?
Scottish football needs Rangers to be back in the Premiership, and that is the plan of the King-led consortium.
Rangers are currently in the Scottish Championship and are likely to earn themselves a playoff spot at the end of the season.
Celtic have won the Premiership title for the past two years in the absence of their Glasgow rivals without too much of a problem.
Although the Bhoys were given a challenge for the league title in the opening months of the current campaign, Ronny Deila’s side are on course to emerge victorious with relative ease.
Celtic and Rangers are the two biggest clubs in Scotland, and their rivalry has been severely missed.
If and when the Gers return to the Premiership, then it is going to attract more followers and help the game grow financially.