Ipswich have now had a substantial offer rejected in an attempt to bring a Celtic target to Portman Road.
The Tractor Boys are busy preparing for life in the Premier League after Kieran McKenna remarkably guided them to a second place finish in the Championship last season, and there is money to spend.
However, Ipswich have now seen a big-money bid rebuffed for a player Celtic also want to sign…
Ipswich have Fotis Ioannidis bid rejected
A story from SPORT24 in Greece now claims that Ipswich have seen a €25m (£21m) bid rejected by Panathinaikos for Fotis Ioannidis.
It comes after Calciomercato claimed that Celtic are also keen to sign the Greece international.
Ioannidis has become a target for both the Tractor Boys and the Hoops after a stunning 2023/24 campaign, in which he scored 23 goals and provided nine assists in 44 appearances.
SPORT24 believe Panathinaikos have rejected the £21m bid, having already rebuffed an opening offer from Ipswich which was worth €22.5m (£19m).
The Greek giants have since told Ipswich – as well as Sporting CP, Bologna, Lazio and Girona – that Ioannidis is not for sale this summer.
Celtic surely out of the race
Ipswich – buoyed by the financial power of the Premier League – are in a position to make an improved bid for Ioannidis and tempt Panathinaikos, although this transfer saga is probably now beyond Celtic.
Celtic’s current record signing is the £9m capture of Odsonne Edouard from PSG back in June 2018, so a deal north of £20m does not feel possible for the Bhoys this summer.
It would require a significant financial commitment from those in the boardroom at Celtic Park, but potentially mean Brendan Rodgers has no funds remaining to bolster other areas of the squad.
Therefore, we would expect Celtic to be out of this transfer battle after Ipswich took the bidding up to £21m – and still saw the offer fail.