Kenny Dalglish says the ruling in Hearts and Partick Thistle's impending independent hearing could have significant consequences in all four Scottish divisions.
The SFA arbitration panel is this week expected to hear the two clubs' case against being relegated.
Scotland legend Dalglish believes that, if the clubs get the result they want, it could set a precedent in terms of title-stripping.
Speaking in the Sunday Post, Dalglish said: "It’s never pleasant to see any side relegated, and it’s a sad state of affairs to see a footballing decision in the hands of three legal experts.
"If the judgment goes in favour of the clubs, then good luck to them.
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"Their endeavour and fight against the SPFL will have led them to getting the result they wanted.
"But such a ruling may well open the door to many, many decisions in the SPFL’s four divisions being called into question.
"For example, if the relegation of Hearts from the Premiership, and Thistle from the Championship, is ruled to be unlawful, what’s to stop a club challenging the outcome at the top of the table as well?
"What’s to stop them asking that any titles given before the fixture schedule had been completed should also be ruled null and void?
"The argument would be that the same rules must apply to every place in the league, and not just the issue of relegation."
Dalglish made 322 appearances for Celtic and 502 for Liverpool during an illustrious playing career.
