Celtic look set to be priced out of the race to sign Marc-Antoine Fortune after Nancy accepted bids from three English clubs.
New Celtic manager Tony Mowbray had targeted the striker after he impressed during a loan spell under the Englishman at West Brom last season.
But Celtic will need to produce an offer of around £3.5m to stop him moving to the Premier League.
Hull boss Phil Brown has confirmed having negotiations with Nancy while Portsmouth, Wolves and Fulham have also been linked with interest in the player.
Nancy sporting director Nicolas Holveck said: "We have accepted three separate offers, all from English clubs.
"All are in excess of €4m and, with add-ons, one is approaching the €5m mark.
"We are happy to allow the player to begin negotiations with these clubs and we expect the transfer to be formalised by Monday.
"It's still possible he could move to Celtic but they have yet to make an acceptable offer.''