THERE was a touch of devilment in Peter Lawwell’s declaration in The Herald on Saturday that Celtic deserve to be the dominant force in Scottish football because “we have run the club well over a number of years”.

But the Parkhead chief executive's remark was, despite being a not-so-subtle dig in the direction of their traditional rivals across the city, also undeniably true.

Celtic have qualified for the Champions League group stages this season and are closing in on their sixth consecutive Scottish title, and potentially a fourth domestic treble, as a direct result of a commendable and longstanding financial prudence.

There has been no Asian tycoon, Russian oligarch, Arab sheikh or American billionaire bankrolling on-field success in the East End of Glasgow by ploughing in exorbitant sums of cash from their vast personal fortunes.

Nor have they been recklessly plunged tens of millions of pounds into debt in order to finance signings which they are unable to afford.

No, a shrewd business plan – centred around a transfer policy which involves buying young players with potential and developing them over time before selling them on at a healthy profit - has allowed Celtic to perform consistently well at home and abroad while living within their means and even turning a profit at times.

So the calls for Dave King to invest more heavily in Rangers, as he promised he would on more than one occasion before assuming control last year, in order to enable the Ibrox club to compete for the Ladbrokes Premiership in recent weeks have been ill-advised.

Seeing Mark Warburton’s side struggle in the top flight has certainly not been easy for supporters. Watching Brendan Rodgers’s team outclass them in two one-sided encounters has been particularly difficult to bear. Being involved in the race to finish in second place is an unusual experience.

It is not difficult to understand why frustrated fans would turn to King, their chairman and major shareholder, in despair as their neighbours go from strength to strength and implore him to show them the money.

However, taking a short-sighted approach to their difficulties just to alleviate their suffering would be wrong. It is imperative Rangers learn from the many mistakes of the past, conduct themselves responsibly and lay down stable foundations for the future no matter how painful that may be at the present moment in time.

They continue to operate at a significant annual loss as things stand. Their wealthy benefactors, King, George Letham, Douglas Park, George Taylor and others, are currently offsetting that with loans which will be converted into shares at a later date. But it is not, by their own admission, a model which is sustainable in the long-term.

The raft of complex issues which King and his fellow directors inherited when they took over, not least the retail agreement with Sports Direct, have complicated their efforts hugely and may well have prevented further investment, from both themselves and others, from being forthcoming.

But relying solely on the benevolence of some sugar daddy to bring them silverware is what effectively got them into their current predicament in the first place. It is not a road they should venture down again no matter how tempting it may be to do so.

Club 1872, the new amalgamated supporters group, increased their stake to 6.25% last month when they bought a further 192,550 shares. They are now the fifth largest shareholder. There are far greater benefits to be had from strengthening their position further and gaining even more of an influence in the running of the club.

King has set Warburton the target of finishing as runners-up in the Premiership and securing a place in the Europa League this season. That is a sensible and attainable objective.

It may be excruciating for followers of Rangers to watch Celtic spending millions on English Premier League players who can while their club are bringing in free transfers from the lower divisions down south. How can their team possibly compete in the league?

Yes, Warburton has spent £1.5 million on Joe Garner and £500,000 on Michael O’Halloran during his time in charge. That is far more than the majority of his top flight rivals could even dream of parting with.

But Rodgers is operating at an altogether different level. Since arriving in the summer he has been able to lavish £3.5 million on Scott Sinclair and also shell out £1 million on Cristian Gamboa to essentially be a squad player.

Celtic, though, have earned the right to spend those sort of transfer fees. It will take Rangers many years to get to a point where they can match them. It is not inconceivable that 10-In-A-Row will have been achieved by the time that they do.

They will just have to suck it up and accept that is their lot until that time.