Pressley has spoken with Celtic manager Gordon Strachan

"Bearing in mind Steven can't play for another club until 1 January, he has a bit of time to consider his options," agent Blair Morgan told Record PM.

"He is not in any rush to sign anything and he will establish who is interested in the next couple of days.

"The race for his signature will definitely hot up."

Southampton boss George Burley has expressed his interest, while Rangers, Dundee United, Derby County and Leeds have all been linked with the Scotland defender.

Pressley had an informal meeting with Strachan after being released at the weekend but other clubs are sure to contact the 33-year-old.

A source told BBC Sport: "It's too early to say they are in talks. Steven simply had a natter with Gordon, whom he knows from his time at Coventry."

Steven can't play in Europe this year, but he can help Celtic to the championship Blair Morgan

With Pressley's wife expecting a new child within the week, it has been reported that he would prefer to remain in Scotland.

But, if Strachan was to follow up his interest, Pressley would not be eligible for the Champions League, having played for Hearts in the qualifying rounds.

Morgan added: "Steven can't play in Europe this year, but he can help Celtic to the championship which is something he has never won."

Pressley joined Hearts in 1998 but recently fell out of favour after voicing concern about the way the club was being run by owner Vladimir Romanov.

Scotland manager Walter Smith would like Pressley back playing regularly as soon as possible.

"I don't think he'll have any problem getting another team," he said.

"From our point of view we have a number of players not playing regularly and we don't need another one, so I hope he gets fixed up before Christmas."

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Southampton manager Burley worked with Pressley during his brief spell in charge at Tynecastle.

And he told BBC Sport: "I'm aware of Steven Pressley's situation and I'm monitoring it.

"But I would have to wait and see if we could do anything in the January transfer window."

Dundee United's Craig Levein is another manager to have worked with Pressley at Hearts.

And he told The Evening Telegraph: "I spoke to Steven and he knows I want to sign him, but he has other offers to consider and I would say we are well down the pecking order.

"From speaking to him, I think he wants his future sorted out sooner rather than later, but, right now, I'm not holding my breath so far as our chances go."