According to the Dailymail, Brewers Carling are close to ending their multi-million pound shirt sponsorship of the Old Firm when their current contract concludes next season.
Should Carling's decide to end the 7-year association, it would end a long run of dual sponsorship for the Glasgow giants. NTL preceded Carling as joint shirt sponsors.
Carling's parent company, Coors, signed an £18 million deal with the Old Firm in the summer of 2005 worth an estimated £1.8 million for each club per season. The previous deal had been worth £12 million.
Carling were forced to take their name off Celtic and Rangers shirts supplied to children in April last year because of legislation deeming it unsuitable.
The US company have been battling to compete against established Scottish brewers Tennent's for the last seven years.
Celtic have lined up a new deal with sportswear giants Nike, which will also run from 2010 and is expected to bank £29m over five years, to supply their kit.
However, like rivals Rangers, they will still need to find a shirt sponsor.
Magners and Coca-Cola are being rumoured as possible shirt sponsors for the Parkhead club should Carling call time.
Carling have denied reports that they are set to end their long-running joint shirt sponsorship deal with the Old Firm.