Brewers Carling are ready to end their multi-million pound shirt sponsorship of the Old Firm, reports the Daily Mail. Sportsmail understands they will end their seven-year association with the big two when their current contract, worth £2million per campaign, concludes next season.

Carling will have invested £30m in the Old Firm by the time their contract expires in 2010.

The global recession has forced their hand, and will leave both Rangers and Celtic scrambling around to find sponsors to plug the financial gap.

Celtic are lining up a new Nike deal to supply their kit.

However, like rivals Rangers, they will still need to find a sponsor.

Magners and Coca-Cola are being rumoured as possible shirt sponsors for the Parkhead club.