By Will Butcher

Celtic are ready to cut their losses on Nigeria international Efe Ambrose by allowing him to leave Parkhead on a free, according to a report.

The 27-year-old has fallen down the centre-back pecking order at Parkhead following the signing of veteran centre-back Kolo Toure.

The Daily Record claim Celtic had wanted £1million for the defender but are now willing to let him go for nothing.

It is said that Bundesliga giants Schalke are ready to snap up the former FC Ashdod defender after Ambrose instructed his agent to find him a new club.

Ambrose could leave the Scottish Champions before Wednesday’s 11pm deadline but is seeking a club willing to pay him at least £10,000 a week.

The 51-time Nigeria star has less than 12 months remaining on his Celtic Park deal, and in addition to Toure, Ambrose finds himself behind the likes of Josip Simunovic, Dedryck Boyata, Mikael Lustig and Erik Sviatchenko.

The Daily Mail claim that Reading manager Jaap Stam was willing to test Celtic’s resolve with a bid of £500,000 plus future payments, while the Scottish giants wanted closer to a fee of £1million.

However, the Championship outfit may now look to add Ambrose to defensive signings Liam Moore and Tyler Blackett for nothing.

Ambrose, who signed for the Hoops four years ago has made 169 appearances for Celtic in four years, scoring six goals and adding 10 assists during that time.

In other Celtic transfer news, this Chile international could be moving to Celtic Park after being offered to Brendan Rodgers for £1million.