Celtic's transfer business has faced scrutiny over the last three summers.
A report by the CIES Football Observatory ranks Celtic's squad value 97th globally, worth €141m [£122.68m], surpassing teams like Botafogo, Lokomotiv Moscow, Dinamo Moscow, and Espanyol.
Celtic's squad is valued higher than these teams, according to the CIES report.
No comment from the club is available at this time.
Author's summary: Celtic ranks 97th in global squad value.