Celtic prepare for winter 'spending spree' as Rangers dealt transfer valuation 'blow'

Old Firm matchday is here, with Celtic and Rangers going head-to-head on Saturday at Parkhead. Just five points separate the two sides at this stage, with Rangers possessing two games in-hand, meaning Celtic may have more to lose heading into this one.

Brendan Rodgers' men claimed the bragging rights in the first meeting this season, but Rangers have appointed a new manager since then. As both sides put the final toches on their preparations, we have rounded up all the latest news surrounding both sides.

Celtic spending claim

Transfer insider Pete O'Rourke believes Celtic could spend as much as £10million in the January transfer window. He told Football Insider: "Celtic have between £6-10million to spend in the January transfer window, sources have told Football Insider. As revealed by Football Insider (28 December), the Hoops have a three-man winter target list and will be looking to sign a striker, a central midfielder and a left winger.

"It is believed that Brendan Rodgers’ side may have to sell players this January in order to boost their transfer kitty. Celtic could also be exploring potential loan deals to bolster their squad in light of their reduced budget, but Rodgers is hopeful of additions for his thin squad. A striker is the number one recruitment priority at Parkhead this winter in the wake of forward Kyogo Furuhashi and Oh Hyeon-gyu jetting off to the Asian Cup in the new year."

Shankland blow

The same source has reported that Rangers will not be able to pull off a deal for Hearts star Lawrence Shankland during the January window. The Gers have been heavily linked with the striker over recent weeks.

Though, Hearts are said to be demanding a huge fee to sell their star man, and the report claims Rangers will not be willing to pay said fee. That fee is reported as £3million.