Celtic manager Neil Lennon hopes Rangers can sort out their problems in order to keep the Old Firm spectacle alive.
Administration-hit Rangers suffered another blow this week when a Scottish Football Association appeal panel upheld a 12-month transfer embargo imposed as sanction for failure to pay £13million in tax during the last 12 months.
Lennon told Clyde 1 Super Scoreboard: "It's a bit of a shambles really. A club as big as that, the way it has been run for the last few years, it's shocking really.
"Hopefully there can be a resolution pretty soon and we'll see where it takes them.
"But it's a shame for a lot of people. There are a lot of people being punished who have had really nothing to do with it."
He added: It's been an ongoing saga for quite a while and I'm hoping there is a light at the end of the tunnel for everyone concerned."
A prospective ownership group fronted by Charles Green hopes to secure a Company Voluntary Arrangement but failure could leave a newco Rangers applying for entry to the Scottish Premier League.
Lennon, who was sent from the dugout on his last visit to Ibrox, admits he would miss the Glasgow derby.
"There is no show like punch," he said. "Regardless of all the other stuff that comes with the Celtic-Rangers scenario, those games have been fantastic to be part of.
"That would be a huge loss to the club here and the game in Scotland.
"But Rangers have to sort themselves out. You can't ride roughshod over other clubs or the game and expect not to be punished for it."
Some Celtic fans have threatened to walk away from the game if their club votes to admit a newco Rangers.
Lennon said: "I can understand that but then again you are going to punish the club and the players who have done nothing wrong.
"We really need the support, particularly away from home where our record over the last couple of years has been excellent, because they have been like a 12th man for us.
"I wouldn't be a big supporter of boycotts but I can understand some fans' take on it."