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Lo Celso, 20, has joined the Ligue 1 champions from Rosario Central on a five-year contract but will remain on loan with the Argentine club.
Wolfsburg have confirmed Nice's interest in Brazilian defender Dante, while ruling out an exit for midfielder Luiz Gustavo.
Sigthorsson, 26, had a difficult first year in France, scoring only three league goals in 26 matches.
After an injury interrupted his preseason, Edinson Cavani is set to feature when PSG face Metz this weekend.
Paris Saint-Germain midfielder Benjamin Stambouli is set to leave before the end of the month, with Real Betis revealing interest.
At this time last year, Alexandre Lacazette was struggling and lacking in fitness. But what a difference 12 months can make, writes Julien Laurens.