Celtic have added a new twist to the long-running Bobo Balde saga by scrapping their original offer and putting in a significantly lower bid for the player.
The Scottish champions originally agreed to pay Toulouse £2.5 million sterling for the centre-back but are now offering £1.4 million for him and striker Marc Libbra, reports said.
The reason behind the new offer may be the French club's financial uncertainty and, although manager Martin O'Neill has not confirmed it in public, Libbra is also thought to be part of the deal.
A Toulouse spokesman told the Scottish Daily Record: "Celtic know we are in a lot of financial trouble so they have made a lower proposition. They believe we are not in a position to refuse."
O'Neill said after Tuesday night's friendly with Porto he expected the transfer to be concluded by the end of the week.
Rivals Rangers are also believed to be eyeing the Balde situation closely as they are understood to be owed £100,000 from the transfer of Derek McInnes 18 months ago.
The French club had agreed to pay a total of £400,000 for the midfielder, who is now at West Brom.