Celtic kicked-off with a 3-0 defeat to holders Real Madrid; Ange Postecoglou's side to also face RB Leipzig and Shakhtar Donetsk in Group F; Rangers lost 4-0 at Ajax with Liverpool and Napoli to come in Group A
Thursday 8 September 2022 09:14, UK
Gordon Brown was Prime Minister, 'What a Wonderful World' was Christmas No 1 and the first iPhone was released.
Yes, 2007 feels like a long time ago, but that is the last time both Celtic and Rangers were together competing in the Champions League group stage.
Although the Old Firm have had individual stints in Europe's top club competition since, this week marks the return of both once again.
Celtic got their campaign under way on Tuesday losing 3-0 to Real Madrid at Parkhead, with ties against RB Leipzig and Shakhtar Donetsk to come in Group F.
Rangers, meanwhile, lost 4-0 against Ajax in Amsterdam on Wednesday with matches against Napoli at Ibrox then a double-header against Jurgen Klopp's Liverpool in Group A to come.
Hearts also have Europa Conference League football to look forward to; so are we enjoying a new high for Scottish football and what does it mean for the Scottish Premiership?
Former Celtic striker and Sky Sports pundit Andy Walker said: "I remember working the last time Celtic and Rangers were both in the group stages, one played Tuesday and the other Wednesday and it was just fantastic for the game here.
"I've got to say it's brilliant for Glasgow, let alone Scotland. It tells you just how well Celtic and Rangers have done.
"I think Scottish football is better for both sides being in the Champions League. It makes the game more attractive and attracts better players too.
"The excitement is there with the cream of Europe now coming to Glasgow to face Celtic and Rangers in what are certain to be sell-out stadiums. The fans will enjoy the away trips to some fantastic places too I'm sure."
Kris Boyd admits he was fearful the Old Firm would struggle to dine at Europe's top club competition again after many years away, but the ex-Rangers striker believes this now gives a huge platform to both clubs and the Scottish game as a whole.
"I thought the opportunity for any Scottish team to qualify for the Champions League was getting virtually impossible because of how far off it we've been for the last few years," he said.
"Now, all of the sudden, off the back of a few years of good results in Europe, the coefficient is higher and we see Celtic qualify automatically and Rangers have found a way to join them.
"The high of reaching the Europa League final last season definitely helped Giovanni van Bronckhorst's side and you've got to say it's a fantastic result for Rangers and Scottish football.
"We look at the big European names and know it will be tough, but when you look at Rangers and how they've played in European football over the last couple of years, no one will want to face them either!
"Both teams should be getting to the Champions League each year and hopefully this is now the springboard to even better [times]. Having both in the group stages is great for Scottish football, especially with the extra finance for the other clubs as well."
The top two in each group progress into the last 16 of the Champions League, while the teams who finish third drop into the Europa League, so how far could Celtic and Rangers go?
"I think a very reasonable and realistic success for both sides would be finishing third and securing Europa League football after Christmas," said Walker.
"Everyone knows, in Glasgow especially, Celtic and Rangers can rise to the occasion and there have been some memorable results."
Meanwhile, Boyd added: "I think both Rangers and Celtic should be looking at that third place.
"There's nothing to say they shouldn't be competing for the Europa League after Christmas and you just never know, with a bit of luck there is always the opportunity to cause a few shocks.
"Champions League nights are a great vibe and the excitement will be unbelievable."