Rangers beat Celtic 5-4 on penalties after the two fierce Glasgow “Old Firm” rivals battled to a 2-2 draw after extra time in an epic Scottish FA Cup semi-final at Hampden Park yesterday.

Rangers, who have just won promotion back to the Scottish Premiership after four years exile in the lower divisions following their serious financial troubles, clinched the tie when Tom Rogic blazed his penalty high and wide to send the champions-elect out.

Rangers, who won the Championship (second tier) title and promotion this month, will face Hibernian in an all-Championship final at Hampden Park on May 21.

Rangers went ahead after 16 minutes when veteran striker Kenny Miller, 36, one of only five players since World War Two to play for both clubs, took advantage of poor Celtic defending to turn and shoot past goalkeeper Craig Gordon.

Celtic, who had been second best for most of the first half, took control after the restart and substitute Erik Sviatchenko equalised with a bullet header after 50 minutes.

Barry McKay swung the match Rangers’ way with a stunning 30-metre strike in the sixth minute of extra-time, before Rogic scored Celtic’s second equaliser 10 minutes later.

Hibernian secured their place in the cup final next month when they beat Dundee United, the bottom club in the Premiership, 4-2 on penalties after the their semi-final ended 0-0 after extra-time, also at Hampden Park, on Saturday.