Rennes are in advanced stages of negotiations to sign Celtic striker Kyoga Furuhashi for around £10m.
Sky Sports News understands an offer is on the table and the possibility of Jota returning to Glasgow is also being considered separately.
Kyogo has been a key player for the Hoops since arriving in Scotland in the summer of 2021 under Ange Postecoglou.
Jota could return to Celtic after leaving in 2023
However, his form for Celtic has not always been recognized by Japan coach Hajime Moriyasu, who has previously criticized the Scottish league.
It is believed Kyogo would welcome the chance to join a club in one of Europe's top five leagues, despite Celtic's progress in the Champions League knockout stages.
The 30-year-old, who had three goals disallowed against Young Boys on Wednesday night, has made it 85 goals for the Hoops in all competitions.
Kyogo had three goals disallowed as Celtic secured Champions League promotion
Sky Sports News understands Celtic would be open to a return for winger Jota, who has been without a game at Rennes since joining from Al-Ittihad in the summer. The Hoops are exploring a deal for Jota in particular.
Jota left Celtic for Al-Ittihad in 2023 for a then record fee of £25m.
'If a player doesn't want to be here, then go'
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Kyogo scored 85 goals with a brace at Ross County.
Brendan Rodgers he admitted last week that he won't stand in anyone's way if their hearts are set on leaving Celtic:
“I think the biggest thing is if the player doesn't want to be here, then he leaves, and then it's at that point, then the club has to get the best deal possible. So I don't see the point of keeping someone who doesn't want to be here.
“But I think everything is possible for us. We are preparing for that, whether it's injuries or transfers. You must always be prepared and that is our message.
“But for him (Kyogo) at the moment he is happy, he is working well, scoring goals and enjoying football.
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Kris Boyd and Chris Sutton have praised Celtic's Kyogo after an impressive performance against Ross County, which saw the striker score twice.
“People always look at something – 'he didn't celebrate enough or he didn't do this or he didn't do that'.
“I see him every day, I see his work, I see his intensity. And maybe he's accomplished so much that he doesn't really have to celebrate all the time. Or maybe it was too cold. But he's just the same guy.
“But there's always speculation and we're not afraid of speculation and gossip. So there's always going to be little bits around him.”