Celtic backed for 'chunky' transfer windfall as Rangers set to sanction exit

Celtic and Rangers return to action this weekend after last weekend's winter break. The two Glasgow giants return in the form of Scottish Cup action this weekend, with the Bhoys taking on Buckle Thistle and the Gers facing Dumbarton.

Both sides will be hoping to avoid being the victim to an upset ahead of returning to their Premiership title race. In the meantime, we have rounded up all the latest news and transfer rumours surrounding both clubs.

Sutton on Celtic windfall

Chris Sutton believes Celtic could be set to pocket a hefty windfall for Cameron Carter-Vickers should English clubs come knocking this summer. He told the Daily Record: "Celtic had to spend £6m to get Jota signed. Paying that little more ended up netting them £25m when the Saudis came calling. In the same summer, Carter-Vickers cost the same £6m. If the English do come knocking in the summer, I’d say you are looking at another £20m.

“That’s really what the fans want to see. Chunky investments bringing even healthier returns. I’m fairly sure Carter-Vickers and O’Riley will stay until at least the summer, but they’ll go one day and their bumper transfer fees when departing will just push the narrative of pay higher, sell higher. Fans just want ready-made players who can go straight into the side and make it better.”

Rangers loan exit likely

Rangers look set to offload youngster Alex Lowry after recently getting him back from a loan spell with Hearts. According to the Daily Record, Philippe Clement does not plan to use Lowry, and he will sanction another loan exit between now and the end of the month.

Lowry is in need of first-team football as he continues his development, and he is not going to get that at Ibrox following his early return. It's unclear where he could end up, but another loan deal beckons.