According to the Daily record, The Old Firm are set to announce new shirt sponsors - with Tennent's favourites to agree the new sponsorship deal.
Rival lager brand Tennent’s is seemingly the favourite to secure a new sponsorship deal with Celtic and Rangers when its current sponsorship of the Scottish national team expires in June.
Carling signed an £18million deal with Rangers and Celtic in 2003. Both clubs have had joint sponsorship deals since the early 1980s when glazing firm CR Smith became the first company to back them both.
The deal could be worth up to £1.5 million a year for the rival teams.
Tennent's is already in negotiations with the Scottish Football Association over the possibility of extending its £1 million shirt sponsorship agreement with Scotland's national side, which has been in place since 2006.