Rangers ‘close’ to announcing key transfer as Celtic hold ‘talks’ with starlet

Celtic and Rangers are both making progress with their summer preparations.

The Old Firm rivals are now back on the grass, and Celtic have already played two pre-season friendlies, beating Wiener Viktoria and drawing with Rapid Wien.

Rangers, meanwhile, had to cancel their clash with Sunderland over the weekend with the Black Cats due to an electrical failure.

Though, it was still a good week for the Gers, who managed to complete new signings, including Antonio Colak and Tom Lawrence.

Plenty of time remains in the summer window, however, and here we round up all the latest news and rumours surrounding both Celtic and Rangers:

Matondo latest

Rangers are said to be closing in on the signing of Schalke star Rabbi Matondo.

According to BILD, a deal has been struck, with Schalke keen to reduce their squad this summer, and Matondo only having a year left on his contract.

The German outlet report Rangers could announce a deal early this week, with the deal now in the final stages.

Fulgini blow

From good news to bad and Rangers have missed out on the signing of Angers star Angelo Fulgini.

It was reported Giovanni van Bronckhorst was chasing a deal for the midfielder, but it seems Fulgini has already found a new club.

As per Bild, German side Mainz have now agreed a deal with a medical ongoing.

Reid talks

Celtic are closing in on a move for St Mirren starlet Dylan Reid, according to reports.

The Scottish Daily Express suggest the Hoops now have talks planned after offering up a fee of £125,000 to St Mirren for the 17-year-old.

It’s claimed that there was interest from around Europe, but Celtic made the first formal move, and they could well get their man.

Talks with the youngster are said to have taken place some time on Monday.