Celtic look set to lose striker Odsonne Edouard this summer, with Leicester City thought to be closing in on the French forward.

The Lowdown: Edouard wants out

Reports last month suggested that the 23-year-old, who will have 12 months remaining on his deal in the summer, has his sights set on a Parkhead exit and won’t change his mind in regards to a new Hoops boss.

The Foxes are thought to be confident of landing Edouard this summer, beating Liverpool and West Ham in the race for his services.

Celtic reportedly want to receive around £20m for the striker, and just how much the Hoops will need to hand over to Paris Saint-Germain has now been revealed.

The Latest: Sell-on clause update

Reports over the last 12 months have suggested Celtic would need to give 40% or 50% of any deal to the French giants after they signed Edouard for over £9m in 2018.

However, according to the Daily Record, Parkhead chiefs need to give PSG 50% of any profit they make on the striker.

So, should a £20m deal go through for Edouard, Celtic would need to give PSG half of the £11m profit - £5.5m.

The Verdict: Bittersweet news for McKay

In our opinion, this isn’t the worst news for new Celtic CEO Dominic McKay.

It would’ve been better if it was 40% on any profit, but at least it isn’t a percentage on the whole fee. If it was, Celtic could have had to write a cheque for £10m to PSG, and that would put a huge dent in the kitty McKay and a new Director of Football would have to rebuild the squad.

Edouard’s representatives believed that an £8-10m exit from Celtic Park was achievable just last month, so really, if the Hoops can bank £14.5m after the sell-on clause, that could turn out to be great news given the circumstances.

In other news: Intriguing Patryk Klimala update emerges, find out more here.