Celtic were widely regarded as negotiating a high fee for Jeremie Frimpong in January when he completed a move to Bayer Leverkusen.

The German club agreed to pay £11.5million for the right-back in a market in which £10m+ deals across Europe were extremely rare.

For a player bursting with potential but who had a mixed season up to that point after his dazzling breakthrough 2019-20 campaign, it seemed smart business.

However, the Celtic beancounters can’t count on all of that fee after posting a pre-tax loss of £5.9million for the six months up to December 2020.

Frimpong’s old club Man City inserted a 30 per cent sell-on clause in the transfer that took him to Glasgow in the summer of 2019.

The Premier League giants will now receive £3.45m for a player developed at their academy after first joining at the age of nine.

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Now 20, Frimpong never played for the City first team before fast-tracking his career with a move to Celtic two summers ago.

He set the Scottish league alight with his blistering performances at right-back last season and was a regular in that position by the time of his exit.

At that point, the Holland youth international and accumulated 51 appearances for Celtic.

Sheffield Wednesday starlet Liam Shaw has decided to follow in Frimpong’s footsteps by swapping England for Scotland this summer.

Neil Lennon announced on Tuesday that the Scottish champions had signed Shaw, 19, on a pre-contract and he will join in the summer.

In other news, Ryan Christie is “set to join a Premier League club” after huge Celtic update.