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The star of the 12-episode Mascot serial The Galloping Ghost can be only one man: legendary college football star (Red Grange). Cast as the star gridiron attraction at mythical Clay College, Red is thrown off the team in disgrace when he attempts to cover for his pal Buddy (Francis X. Bushman Jr.), who has accepted a bribe to throw the Big Game. Thus, Grange is obliged to spend the serial's remaining 11 episodes to clear himself and to find out who is the "brains" of the gambling ring. Can there be any doubt as to the outcome? Evidently, there was some doubt in 1931, since Galloping Ghost proved to be one of Mascot's most profitable chapter plays.