Celtic will have to stump up a significant bid if they are to prise Siriki Dembele away from Peterborough United, warns Barry Fry.

The 24-year-old played a key role as the Posh returned to the Championship with promotion from League One last season.

Dembele has entered the final year of his Peterborough contract and attracted interest from a host of clubs, including Scottish Premiership champions Rangers.

Celtic, who will be looking to regain the title after seeing their nine-year hold on the crown come to an end thanks to their arch-rivals, are also interested in doing business.

Dembele made 45 appearances last season, scoring 12 goals and contributing as many assists.

But Fry, Peterborough's director of football, insists keeping Dembele on the club's books in the second tier of English football and then allowing him to leave on a free transfer next summer could prove to be a better option than selling him ahead of a challenging campaign.

Speaking exclusively to The Transfer Tavern, Fry said: "He's a talented boy and just because he's in his last year, people think we'll sell. We won't.

"We've got a better chance of retaining our Championship status with Jonson Clarke-Harris and Dembele in our side than not. It's got to be substantial figures for either of them or we'll just let Dembele go for nothing in a year.

"If he keeps us up, it's worth £15million to us. It's well worth it."