Celtic have 'rejected' an offer from Toulouse for Stephen Welsh, ending their pursuit of the youngster in the process, according to Sky Sports journalist Anthony Joseph. 

The lowdown: Hot property

The defender has recently attracted interest from the Ligue 1 outfit, although it became apparent from the outset that the Hoops were unwilling to part ways with the talented 22-year-old.

A graduate of the Parkhead academy, the versatile Scotland under-21 international has made 47 appearances for the club, 24 of which came last season, and appears to have a bright future in Glasgow.

Celtic have seemingly further dismissed any possibility of Welsh leaving the Premiership champions this summer...

The latest: Toulouse pull out of Welsh chase

Taking to Twitter, Joseph claimed that the Bhoys have turned down a season-long loan offer from Toulouse to sign the 22-year-old, in turn prompting the French club to pull out of the chase for the defender..

The journalist stated: “UPDATE: Toulouse have ended their pursuit of Celtic defender Stephen Welsh in this window. He was their No1 centre-back target this summer. However, Celtic rejected a season-long loan bid, with an option-to-buy for £3.5m, last week. Toulouse will now move on to other targets.”

The verdict: Positive move

Whilst it remains to be seen whether the Coatbridge native can retain his place at the forefront of Ange Postecoglou's plans once Carl Starfelt returns to full fitness, Welsh has certainly given the manager something to consider following a standout goalscoring display against Aberdeen on Sunday.

Last season, the fledgling Scot - who was hailed as 'phenomenal' and a 'fan favourite' by Celtic youth coach Martin Miller - scored twice and provided one assist in 24 games across all competitions for the Hoops, playing predominantly as a central defender but also operating at right-back.

In addition to Welsh, Starfelt and Cameron Carter-Vickers, loan signing Moritz Jenz will be hopeful of his chances of making an impact on the starting XI in the near future, whilst out-of-favour Christopher Jullien remains no nearer to securing an exit from Lennoxtown.

Ultimately, keeping players such as Welsh in situ and seeing off interest from major European leagues can only be regarded as a feather in the cap for the Hoops ahead of their Champions League group stage return next month.