After missing out on the Scottish Premiership in a campaign to forget last season, Rangers now have the hard task of preventing Celtic from making it three consecutive title wins.
The man in charge of standing in the way of Brendan Rodgers' new side is Michael Beale, who will be hoping to use the remaining days of the transfer window to gain an edge over his Old Firm rivals.
As things stand, however, reports suggest that Celtic have already taken the lead off the pitch, potentially beating Rangers to their transfer target.
What's the latest Rangers transfer news?
So far this summer, Rangers have welcomed a total of eight reinforcements, with Feyenoord's Danilo and Atalanta's Sam Lammers the pick of the bunch, alongside Jack Butland and Kieran Dowell.
With seven days still remaining in the summer transfer window, however, Rangers may yet hope to welcome even more fresh faces. It's clear so far that Beale's side could do with all the help that they can get if they are to dethrone Celtic this season.
After two games in the Scottish Premiership, Rangers have lost one and sealed all three points in the other, with their opening day defeat against Kilmarnock a particular shock.
Of course, the Gers have since defeated Livingston with ease to get back on track on the pitch, but off the pitch, things aren't going quite so well.
According to The Daily Mail, Rangers' rivals Celtic have launched a £3.5m bid to sign Gers target Luis Palma. Rangers reportedly viewed the winger as a replacement for Ryan Kent, who left the club earlier in the window, but now look likely to miss out following Celtic's reported bid.
No matter which club takes pole position in Scotland, however, they will still have to reportedly battle it out for Palma's signature against Watford and Anderlecht this summer.
Is Luis Palma any good?
Currently plying his trade for Greek Super League side Aris, Palma was involved in an impressive 21 goals last season, scoring 13 and assisting a further eight in all competitions.
Meanwhile, so far this season, the 23-year-old has already found the back of the net twice and made three assists in five appearances. From Beale and Rangers' perspective, they could be missing out on a player in form who looks likely to only get better. Worse is the fact that it is Celtic who could secure Palma's signature, too.
At his best, the Honduran has earned plenty of praise, including from Aris manager Apostolos Terzis, who said, via Daily Record, after Palma scored twice in his side's 4-2 victory in the Europa Conference League: "Luis has done that all season. He has been a huge player for us. We know there has been a lot of interest in him and it's not surprising. Hopefully, playing in Europe next season will persuade him to stay with us."
Read the latest Rangers transfer news HERE…
Palma, himself, also commented on his future at the end of last season, saying, via Daily Record: "First of all, there have been no concrete proposals or offers for me. It's just been speculation.
"I am completely focused on my team. Nothing can distract me during this important time. In my mind, I am only thinking to try and help Aris to get as many points as possible. If a good proposal comes after that, then we can talk. But for now, I only care about this season and Aris."
