Celtic have lost out in the race to sign Argentinos Juniors midfielder Fausto Vera, with journalist Fabrizio Romano confirming that the player has agreed a move to Corinthians.

The Italian reporter claims the Brazilian club will pay a “fixed fee” of around €8m (£6.8m) with Vera also being the subject of bids from three European clubs:

Corinthians have full agreement in place to sign Fausto Vera despite three bids from European clubs. It’s now done and completed for €8m fixed fee. Fausto Vera signs until 2026. 🇧🇷🤝 #Timão

Deal will also include 30% sell-on clause to Argentinos Juniors. pic.twitter.com/yI31AlhNZt

— Fabrizio Romano (@FabrizioRomano) July 24, 2022

One of those European-based teams is likely to be Celtic, although some believe that the Hoops may have pulled out of negotiations once they secured the services of Aaron Mooy on a free transfer.

Either way, Vera would have been an expensive purchase. Paying close to £7m with a 30% sell-on clause is a sizeable amount, even with the financial backing that Celtic now have from being in the Champions League.

While the club may have missed out on Vera, it is believed they are still in the market for one or two more signings. Recruiting a striker is a strong possibility and a move for PSG’s Edouard Michut is also still on the agenda.