The latest Rangers and Celtic news headlines at the halfway point of the week

Celtic crashed out of the Champions League on Tuesday night after a ... playoff second leg defeat against Bayern Munich in Germany, while Rangers continued preparation for their Premiership clash vs St Mirren this weekend.

The Hoops’ European exit comes on the back of a much-improved campaign for Brendan Rodgers’ side on the continent this term, having benefited from the revamped League Phase format.

Rangers, meanwhile, will hope for silverware in the Europa League to avoid finishing the season without a trophy. Here are the latest new headlines surrounding both clubs on Wednesday morning:

Rangers have been told they could potentially sell on summer signing Hamza Igamane for a hefty sum in the coming transfer windows.

The Moroccan striker has cemented his place as manager Philippe Clement’s first-choice striker in recent months after taking a few months to get up to full speed. The Belgian has relied heavily on the 22-year-old after his explosive emergence, starting 13 in the last 14 top-flight games.

Interest has already began to mount and former Ibrox skipper Barry Ferguson reckons his old club could make a “small fortune” when they choose to sell Igamane. He insists Rangers have a quality player on their hands after netting 13 times so far this season, but wants the club to develop him in the right way in order to get the best value.

Speaking on the Go Radio Football Show, Ferguson said: “In terms of Igamane, Rangers have certainly got a player on their hands. It’s just about making sure he develops right, and if that’s going to be the case, I think they will earn a small fortune off him.”

Celtic stars braced for international bow

South Korea head coach Hong Myung-bo has confirmed he held talks with Scottish-based duo Yang Hyun-Jun and Kwon Hyeok-kyu about handing them international call-ups.

Celtic winger Yang has started to catch the eye after a consistent run of game time under Brendan Rodgers. And his Hoops teammate Kwon has made 22 appearances for Hibs on loan so far this term.

Hong made a pre-arranged trip to meet with his European-based players earlier this month, with a visit to Scotland to speak with both players.

Yang hasn't been called up for his country in over a year and has won just three caps, while Kwon was named in his country’s squad for a World Cup qualifier against Iraq in October, but has yet to make his full debut.

South Korea boss Hong revealed: “My trip to Europe was very beneficial. Accompanied by my coaches Park Geon-ha, Kim Dong-jin, and Kim Jin-gyu, we watched games in Scotland, England, Germany, Netherlands and Belgium. We met with Yang Hyun-jun at Celtic and Kwon Hyuk-gyu at Hibernian, along with several other European-based players. All the European players are working hard and we need to continue to observe them.”