Both sides of the Old Firm will make dramatic changes to their squads over the summer - and don't be surprised if they spend between £10m and £20m each.

Rangers raked in £35m over the course of the season because of their fantastic European run all the way to Manchester, and also the £9m sale of Alan Hutton to Spurs in January (which I still believe cost them the SPL title).

Walter Smith still has his January budget of £5m to spend, which means there is £40m just lying there in the Ibrox kitty. I think Smith will receive about £15m of that money which is a significant amount for ANY Scottish club to be spending nowadays.

'Walter Smith still has his January budget of £5m to spend, which means there is £40m just lying there in the Ibrox kitty'


Celtic, on the other hand, made between £15-20m because of their run to the last 16 of the Champions League, and I would think they will get around £15m to spend. This makes for an interesting and eventful transfer window regarding the Old Firm.

Both clubs will also be letting plenty of players go, which may free up a bit of money, plus thousands of pounds worth of wages.

Celtic will let such players as Bobo Balde, Derek Riordan, Chris Killen and Massimo Donati go and, of course, Steven Pressley has already left the club. It is also possible the likes of Artur Boruc, Aiden McGeady and Scott McDonald could be leaving on BIG money transfers to the English Premier League, with Arsenal courting Boruc, Newcastle interested in McGeady and Sunderland looking at McDonald.

Rangers, on the other hand, will let go of a number of players such as Brahim Hemdani, Thomas Buffel, Alan Gow, Davie Weir, Andy Webster, Amdy Faye and Daniel Cousin, with Filip Sebo already gone.

Christian Dailly and Steven Davis are also away again after their loan deals expired, though it looks as if Dailly is staying and with Davis wanting to stay at Ibrox a deal will probably be done with Cousin going the other way. Carlos Cuellar and Allan McGregor could also be away on BIG money transfers to the Premier League, with Cuellar to Newcastle and McGregor to Spurs. But I believe both will stay at Ibrox.

There are a few names already linked with both clubs:

Rangers
1. Kenny Miller (£3m from Derby)
2. Peter Lovenkrands (£1.5m from Schalke)
3. Ivan Klasnic (Free from Werder Bremen)
4. George Boateng (Free from Middlesbrough)
5. Mark Reynolds (£500k from Motherwell)


Celtic
1. George Boateng (Free from Middlesbrough)
2. James McFadden (£6m from Birmingham)
3. Stephen Carr (Free from Newcastle)
4. Harry Kewell (Free from Liverpool)
5. Ian Harte (Free from Sunderland)