Celtic made a huge statement of intent in the summer of 2016 when they appointed Brendan Rodgers as the manager, and Rangers can do something similar and perhaps even more if they secure the services of Aitor Karanka.
Rodgers arrived at Celtic Park with a strong reputation, having almost guided Liverpool to the Premier League title in 2013-14 and having worked with players such as Luis Suarez.
The former Swansea City boss has been a massive success at Celtic, much to the disappointment of the Rangers fans, who must be wondering how the team can compete with the Bhoys in the coming years.
The odds of Karanka becoming the new Rangers manager are 8/1, according to Sky Bet, and it is unlikely that the Gers will be able to meet the wage demands of the former Middlesbrough manager.
However, if the Ibrox outfit are able to convince the Spaniard to take the Ibrox managerial role, then it would overshadow the appointment of Rodgers at Celtic back in 2016.
Karanka is a former Real Madrid player and won La Liga and the Champions League with Los Blancos.
Following a distinguished playing career which also included featuring for Athletic Bilbao, the 44-year-old worked as an assistant manager at Madrid before being quite successful at Middlesbrough in England.
Appointing someone so distinguished and successful as the manager is going to make headline news, and for the right reasons.