Handsome and popular football star Red Grange is poised to lead Clay College to a victorious season. This goes against the plans of George Elton, the leader of a gambling ring who will stop at nothing to ensure Clay's defeat. Elton frames Grange for cheating and has him expelled from school, but Red is determined to prove his innocence. As Grange gets closer to finding out who set him up, his friends are violently attacked. The football player turns vigilante hero, left with nothing but his resolve to unmask the criminals and put an end to their corruption.
Filled with shadowy characters and baffling plot twists, this action-packed twelve chapter serial stars real-life football star Red Grange, the greatest college player of all time. One of Mascot's most profitable serials, The Galloping Ghost was directed by "Breezy" Eason, who went on to helm the ground-breaking epic The Phantom Empire starring Gene Autry.