The Old Firm are understood to be ready to fight it out to sign St Johnstone striker Fran Sandaza.
The Perth men are piecing together a fresh deal they hope will keep the Spaniard at McDiarmid Park. However, with Rangers and Celtic now joining Bristol City managed by former Saints boss Derek McInnes they face a tough task to hang on to their free-scoring frontman.
Hoops gaffer Neil Lennon, who will bring his team to Perth to face Sandaza and his teammates on Sunday, is an admirer of the 27-year-old and views the former Dundee United man as a potential replacement for Palermo target Georgios Samaras.
Lennon is understood to be mulling over a bid in an attempt to persuade Saints to allow their star man to leave before the end of the season.
Ibrox manager Ally McCoist is desperate to add to his striking options following the loss to injury of Steven Naismith and is also monitoring the situation.
McInnes, who brought the player to St Johnstone before getting the Bristol job in October, has been promised a transfer budget for the January window so plans a double swoop on his old club for both Sandaza and midfielder Murray Davidson.
Sandaza signed a one-year deal at Saints in the summer after leaving Brighton and Hove Albion so is free to speak to interested parties in the new year.