The Scottish giants have turned down Arsenal's latest offer of £25m for left-back Kieran Tierney, with the SPL side understood to be unhappy with the structure of the proposed deal.
Unai Emery has already seen a £15m offer rebuffed and opted to return with an increased offer to try and tempt Celtic to part ways with one of their prized assets.
Sky Sports state that Celtic was less than happy with Arsenal's £25m proposal which includes structuring a deal that would allow the North London side to pay in instalments and add-ons.
£25m would be enough to convince Celtic to sell but they want all of the money upfront. That might be problematic for Emery, who is believed to operating on a shoestring budget of 45m this summer, not to mention that he has other more expensive targets such as Wilfried Zaha and Malcom.
In order to secure Tierney's services, Arsenal would have to part with more than half of their budget and also rely on player sales to raise funds for further incoming deals. The likes of Laurent Koscielny, Mohamed Elneny and Carl Jenkinson are all thought to be nearing the exit door at the Emirates Stadium, which would certainly help in this regard.
Napoli is understood to have expressed their interest in Tierney too, and they are confident they can get a deal done by offering more money upfront.
Will Arsenal get their man?
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