It's claimed the Glasgow rivals are both keen on the Crystal Palace winger in a deadline-day deal.
According to Sky Sports, Celtic and Rangers have both made loan offers to the Premier League club in the hope of a deadline-day switch to Scotland.
Rangers previously had an offer for Rak-Sakyi rejected earlier in the window, with Russell Martin admitting he was a fan of the 22-year-old winger.
Celtic and Rangers have made loan offers today for Crystal Palace winger Jesurun Rak-Sakyi.
Earlier today Leicester City had made a loan bid for the 22-year-old, but both Glasgow clubs and Lyon entered the race this afternoon.
(w/@chrisreidy1 & @SahilJaidka) pic.twitter.com/jNfETUvqWZ
— Anthony Joseph (@AnthonyRJoseph) August 31, 2025
He had said: "I think there are a lot of players we will be linked with, some wide of the mark, some very close and some spot on.
"He's a player I liked at Southampton and tried to take there, and it didn't quite happen.
"He's a player I like and I think he's a player the recruitment staff like, but how far that's gone, I'm not too sure."
Responding to a follow-up question on whether the winger fits the right profile of player Rangers are chasing this summer, he added: "He's a really good player. We look at all sorts of different profiles that we think can help the team.
"So it doesn't necessarily have to be one type of profile; players are very different.
Read more:
"We just need the ones with the right mentality that are desperate to come and play here and we'll see where we end up in four weeks time."
Sky Sports report that Leicester City first made an approach for Rak-Sakyi on Sunday before both Celtic and Rangers entered the race for him.
French club Lyon are also thought to be interested in a move for Rak-Sakyi before the summer transfer window closes.