Rangers reportedly tracked a promising Manchester City youngster all summer. 

However, the proposed transfer fell through, according to an insider of the game.

Jadel Katongo, a powerful centre-back, in the end, joined Peterborough United on loan in League One of England.

Owner Darragh MacAnthony has lifted the lid on the process of signing the 19-year-old defender.

It seems The Posh nipped in at the 11th hour to sign the City academy prospect, as they were of the belief he was headed for the Scottish Premiership.

However, during last Friday's deadline day, it seemingly became clear that the deal was off, as Rangers and Philippe Clement instead focussed their attention on Neraysho Kasanwirjo, who joined on loan from Feyenoord.

MacAnthony told the Hard Truth podcast: "I worked on the Jadel deal the day before (the transfer deadline) in the UAE. We’d loved Jadel all summer, but we got told all summer that he was going to go to Scotland. I think it was Rangers he was potentially going to.

“(But we) got a call from Jadel the day before saying that the Scotland move was off. Man City then came to us and said; ‘Look, let’s try and work something out’. So I approved the deal the night before, and then it was just a race against time getting him down on the day.”

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Meanwhile, Rangers will need to spend around £50m in order to catch Celtic.

That's the viewpoint of former Ibrox player and manager Graeme Souness.

While the Scottish football icon doesn't believe the gap between the Old Firm is as big as has been made out by some, the 71-year-old insists his old team need up to four high-quality additions to be able to compete with the Scottish Premiership champions.