Two years ago today most inhabitants of Planet Fitba were afflicted by uncontrollable sniggering.
The mighty had indeed fallen and into a pit that they themselves had excavated with their own hubris.
Now the financial storm clouds are once more over Ibrox.
There is no mystery to any of this.
The new club has indulged in ruinously profligate spending with apparently little regard for the long term.
Charles Green, the man who established the new club in 2012, has left the stage.
I suspect that he found his bout of Rangersitis to be an enriching experience.
If you check the RIFC published accounts you will see what I mean by that.
Now the chaps around the boardroom table are doing their best.
Graham Wallace has been back at his desk this week – a good sign for all who believe in financial common sense.
The ex-Man City chap is the first CEO at Ibrox in perhaps 25 years to talk of sustainability.
Of course, Walter Smith, when he was club chairman last year, said that financial common sense had no place in the Blue Room.
There is a business model for the Ibrox franchise that can work.
One that is based upon reality and paying bills.
The last two years have provided a few men with some serious money thanks to their time at Ibrox.
Sevco could have been heading up the leagues a la Gretna with a large fund of cash to build a top fight team when the time was right.
However, that boat has sailed.
The money really is all gone.
This is a day when people get all dewy eyed and think the impossible is possible.
It isn’t the day for thinking of boring practicalities like paying bills.
However, when poverty comes through the door, romance goes out of the window.
The Ibrox franchise does have an admirer from a distance.
A man described by a South African judge as a “glib and shameless liar” still has an offer on the table for the current board.
However, that cash would have to come in through a share issue that would dilute the holding of the current regime.
Although there is no significant debt at the new club the CEO this week admitted to a journalist that there is a cash flow problem.
Graham Wallace’s dilemma is that, currently, he has an unblemished CV.
Sevco could become that blemish very quickly indeed.
So the chaps in the blue room have some tough decisions to make and I understand there is a board meeting scheduled for later today.
Of course in affairs of the heart timing is everything.
Therefore it is damn bad luck that Planet Fitba will be without the wise counsel and steadfast leadership of Mr Stewart Regan for the whole of March.
I understand that a landmark birthday for the SFA supremo and a wedding anniversary will see him and his good lady in Australia next month.
It is just as well that the President of the SFA is so knowledgeable about matters Ibrox should anything need to be immediately attended to.
Indeed, for Campbell Ogilvie it would be a labour of love.