Hi-Hi Hopes Third Lanark - nicknamed Hi-Hi - was the first senior club to be declared bankrupt (in 1967). And unlike today, when bankrupt clubs often manage to restructure and carry on, the Third Lanark name disappeared from the Scottish League - but not from the hearts of many supporters. After 40 years, you might have thought the name would have been forgotten - but with all that affection, it is not surprising that the Third Lanark was bought and registered at Companies House two years ago by a Hi-Hi fan. Now he is hoping that the name could be used by an amateur or junior side and has put the name up for sale, hoping that it will find a "good home". The original club started as the Third Lanarkshire Rifle Volunteers in 1872 and were among the first clubs in the Scottish League. They played at Cathkin Park, not all that far from the present national football stadium at Hampden. (courtesy of the Rampant Scotland Website 24/02/2007
From Tamebay Website:A Dundee football fan trying to revive his long-bankrupt club, has turned to eBay for help. Ed Sweeney says that he was a fan of Third Lanark as a child. Despite winning the Scottish Cup in 1905 and reaching the final only to lose to Rangers in 1936, in 1967 the club declared bankruptcy and closed. They lost their final game 5-1.Two years ago, Mr Sweeney registered the name Third Lanark Football Club Ltd. with Companies’ House. Now he’s selling it, in the hope that the club will be resurrected. Despite being missing for forty years, the club seem to have plenty of fans. Apparently in an interview last year, Billy Connelly mentioned buying the club himself, so bargain hunters might want to get their snipes poised for this one.