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Celtic have lost out on re-signing Kelechi Iheanacho after declining to meet the striker's substantial wage demands.

The Nigerian forward has put pen to paper on a lucrative three-year contract with Turkish side Bursaspor, despite having an offer to stay at Parkhead on the table.

Record Sport understands the Hoops were unwilling to meet Iheanacho's request for a significant package worth £50k per week – considerably more than the club's highest earners.

The Hoops had tabled a two-year deal for the Double-winning star despite letting the automatic one-year extension clause lapse at the end of June.

However, the ambitious Turkish second-tier side – who secured promotion last season – swooped in with a generous offer to secure the 29 year old on a three-year contract.

It represents a significant setback for manager Martin O'Neill, who stated earlier this week that he remained optimistic the striker would lower his expectations and rejoin the club.

Celtic have been outbid and it's set to frustrate supporters already unhappy with the limited transfer business conducted during the summer window.

O'Neill has brought in forward Camilo Duran and extended Alex Oxlade-Chamberlain's stay by another 12 months.

However, the club have failed to add further reinforcements despite accepting the likely departures of key players including Daizen Maeda, Arne Engels and Reo Hatate.

Meanwhile, defender Maik Nawrocki has completed a £2.5m move to French side Lens.

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