Celtic chief executive Peter Lawwell claims The Tims do not need Rangers and he believes the rest of Scottish football could also survive without the Ibrox club.
The ailing Ibrox club on Monday filed legal papers with the Court of Session in Edinburgh signalling their intention to enter administration, as they await the verdict of a tax tribunal.
The HMRC case centres around the use of employee benefits trusts (EBTs) which were in place before Craig Whyte took over as chairman from Sir David Murray last May, with Rangers looking at a possible bill of around £75million.
The possible demise of the club altogether has also been raised in the media, leading to questions over Rangers' historical relationship with Old Firm rivals Celtic and the very future of the game in Scotland.
Lawwell: "The way we would look at is we don't need Rangers.
"We have a strategy that we have embarked on, that's independent of Rangers or any other club in Scotland.
"These are challenging times at the moment and we have to face them. There is a lot of big thinking to go on.
"Nobody knows (what is going to happen). There has to be closure on all of this.
"Closure on Hearts, closure on Rangers, or any other club out there so there is a certainty and stability brought in.
"It is a changing world.
"Nothing stays the same."
In England, Portsmouth are facing a 10-point deduction from the Football League after the club on Tuesday confirmed they have applied to go into administration.
A points deduction of that scale - an automatic penalty for administration - would see Pompey drop into the relegation fight at the bottom of the Championship.
It would be the second time in as many years that the club has gone into administration.
Source: FOOTYMAD
