A roundup of the latest transfer news and rumours surrounding Celtic and Rangers on Tuesday afternoon

Rangers are back in European action this evening when they kick-start their Champions League qualification process, while Celtic are nearing a deal for an attacking target.

The Light Blues face Panathinaikos at Ibrox in the first leg of their second round qualifier, with head coach Russell Martin getting his first taste of continental football.

Here, we’ve rounded up some of the latest transfer headlines for both clubs:

Ligue 1 chief makes transfer confession

Le Harve president Jean-Michel Roussier admits their asking price for centre-back Etienne Youte could drop amid reported interest from Celtic.

It has been suggested in France that the Scottish champions have joined Belgian outfit Anderlecht and Turkish side Besiktas in the race to land the 23-year-old.

Youte only has 12 months left on his current contract and the Ligue 1 club would reportedly accept a €5million (£4.3m) fee this summer.

But Roussier admits that the cash-strapped club might be forced into a bargain sale of the defender.

Speaking to Paris Normadie, the club supremo was asked about the risk of allowing player’s deals to run out. He said: “We’re used to it. We have to sell at a lower cost, with free agents something we cannot risk. We are a company that is losing money.”

Owen Beck decides next move after Rangers link

Derby County are set to sign Owen Beck from Liverpool on loan amid interest from Rangers.

Reports suggest that the Reds’ had placed a £10 million asking price on the left-back - but The Telegraph claim that a move to the EFL Championship has now been green lit.

It was suggested by the Daily Record that Rangers viewed Beck as a ‘live option’ and the club were seeking a compromise over a fee with talks advancing.

However, it appears as though he will remain in England for the forseeable future.

Celtic also held a firm interest in Beck previously after shining on loan at fellow Premiership side Dundee, although their interest subsided following Kieran Tierney’s return to Parkhead.