The Glasgow International Exhibition Cup was a large decorative cup, originally won by Rangers in 1901 defeating Celtic in the final of a tournament arranged as part of the second Glasgow International Exhibition held at Kelvingrove Park.

In the wake of the first Ibrox disaster in 1902, Rangers arranged a tournament to provide funds for the victims' relatives. Rangers announced that the Glasgow Exhibition Cup won in the previous year would be awarded to the winner. Rangers and Celtic were joined by Everton and Sunderland and with Rangers defeating Everton and Celtic defeating Sunderland, an old firm final was set up.

Celtic won the final 3-2 and were awarded the cup. Celtic were then surprised at the end of the season when Rangers' directors who assumed the cup would be returned arrived to take back the cup. Celtic believed they were the rightful owners after winning the cup fairly in a properly organised competition.

Lawyer's letters were sent back and forth between the clubs with both clubs claiming ownership. Rumour has it that letters are still received by Celtic from Rangers demanding that they give the cup back over a century later.