THEY are the biggest clubs in the land. They grab the headlines, wield all the power and they win almost all the silverware.

There are few comparisons that can be made between the Scottish Premier League and La Liga, with the duopolies that rule the respective domestic scenes the only real similarity.

As of yesterday afternoon, our two-horse race is set to become a canter to the finish after newco Rangers saw their bid for a place in our top flight next season fail inside the corridors of power at Hampden.

It has left our national game in danger of spiralling out of control as the remaining SPL clubs come to terms with the potential financial blow they have coming their way.

La Liga is one of few leagues around Europe where the focus is so sharp on just two teams, with their Barclays Premier League, Serie A and Bundesliga counterparts having several title contenders each term.

The loss of Rangers from our top flight will undoubtedly have severe ramifications for all areas of the Scottish game, with the commercial side of the league likely to suffer.

It is akin to Barcelona or Real Madrid slipping out of the Spanish top flight. However, Sky Sports La Liga expert Terry Gibson insists the loss would not have as detrimental an impact as Rangers playing outwith our highest echelon for the first time in their history.

"It won't happen, Barca or Real Madrid would never be voted out of La Liga" Gibson told SportTimes.

"The difference with those clubs is that they are privately owned and, allegedly, they have had help from the banks in their respective regions.

"They do get more help when needed from the banks because they are establishments.

"There are big clubs such as Atletico Madrid, Valencia and Sevilla but El Clasico, not just in Spain, but around the world, is THE game.

"I am always amazed with the attention El Clasico gets around the world. The Old Firm isn't as big as that, but it isn't far behind.

"For a league like the SPL to miss out on that game, I think it is a real tragedy.

"The TV deals are a long-standing issue in Spain. Barca and Real do their own, there is a group of a few teams who do their own and then there are the smaller clubs who have to survive on a pittance.

"Real and Barcelona are always going to be richer than the other clubs. At Sky, we cover every one of their games because they are the attraction.

"Teams don't rely on them being in the division for TV money, though, which is hugely different."

The news that the SPL had knocked back the application from Charles Green to transfer Rangers' league share from the 'old' company to his newco club came as no surprise after teams across the country lined up to announce their intentions ahead of yesterday's Hampden crunch vote.

The 'no to newco' campaign has been driven by furious fans in recent weeks, with supporters across the country determined to see sporting integrity upheld and the Ibrox club punished for their actions during the most tumultuous 12 months our game has ever seen.

Top clubs voted overwhelmingly to block Rangers' return to the SPL, breaking the Old Firm stranglehold for the first time in more than a century.

Confusion still surrounds which league Ally McCoist's side will play in next season, but Gibson reckons our Spanish counterparts would have done all they could to retain their biggest hitters if Real or Barca ever faced the music.

He said: "They would keep them in the league, guaranteed. I can understand the fans because, if it was any other club, then they would be treated in the manner you would expect.

"It is maybe narrow-minded, but the SPL relies on Rangers and Celtic and their supporters travelling away and going to the smaller clubs.

"If it was another team, the situation just might have unfolded differently. Maybe you have to take the blinkers off and look to the greater good of the game in Scotland.

"It is one of those situations where people and clubs shouldn't be treated differently to anyone else but, when you look at Rangers, you have to look at football in Scotland as a whole."

It is not just in Scotland where the news of Rangers' demise will be treated with surprise, with the downfall of one of the world's most successful clubs a warning to many of the dark clouds that can quickly gather as a result of financial folly.

Many of European football's big hitters are consumed with huge debt levels, and former Spurs and Manchester United ace Gibson fears more illustrious clubs could follow Rangers into oblivion.

Gibson said: "It is diabolical that this has happened to one of the major clubs in Europe.

"It shouldn't have been allowed to happen and you do worry about whether it could happen to other clubs.

"I wouldn't rule it out in the Premier League. There is so much money being brought into the league but we are still seeing teams struggle.

"They spend beyond their means and they do not budget properly. They assume they will be in Europe or in the Premier League and, when that doesn't materialise, you can quickly slip.

"We are fortunate that a big club hasn't gone to the wall, but some have come really close. We have to make the game better long-term, but all the big clubs are only interested in tomorrow.

"No matter how much money comes in, it all goes back out. We have a responsibility to do the right thing."