SANTA CLARA, CALIFORNIA - JULY 1: Ermin Mahmic #26 of Bosnia and Herzegovina reacts to a missed scoring opportunity during the FIFA World Cup 2026 Round Of 32 match between USA and Bosnia and Herzegovina at San Francisco Bay Area Stadium on July 1, 2026 in Santa Clara, United States. (Photo by Elysia Su/ISI Photos/ISI Photos via Getty Images)
Celtic Ermin Mahmic transfer hopes have been handed a fresh twist, with PAOK reportedly entering the race for the Slovan Liberec midfielder.
Celtic have been working on a deal for the 21-year-old Bosnia international, with negotiations previously reported to be progressing towards an agreement worth around £7million plus £1.5million in potential add-ons.
However, the dramatic Champions League exit against LASK has now created uncertainty over whether Celtic will push ahead on the same terms.
Celtic Ermin Mahmic transfer faces new competition
Bosnian outlet Oslobođenje reports that the financial consequences of Celtic dropping into the Europa League could affect the proposed move.
More worryingly, the same report claims Greek side PAOK have now joined the chase and Mahmic has already spoken with representatives of the club.
That creates a situation Celtic simply cannot afford to allow to drift.
Sky Sports had previously reported Celtic were in talks with Slovan Liberec, while the Scottish Sun subsequently stated that negotiations were going well.
Their report said “talks are progressing well”, with the structure of the proposed agreement still being discussed.
Mahmic enjoyed an outstanding breakthrough campaign with Slovan, recording eight goals and four assists across 31 appearances.
He then increased his profile dramatically at the World Cup, scoring twice for Bosnia and Herzegovina.
Celtic cannot allow another deal to drift
The Champions League failure cannot become an excuse for Celtic to abandon the squad-building that was already required.
Martin O’Neill still needs reinforcements, regardless of whether Celtic are playing Champions League or Europa League football.
If anything, losing out on Mahmic now would raise further questions.
Celtic appeared to have moved the deal close to the finishing line before their European collapse. Allowing another club to steal in now because the financial landscape has changed would be hugely frustrating.
There is currently no reliable indication that Celtic have withdrawn from negotiations.
However, with PAOK now reportedly circling, this looks like a transfer that needs a decision quickly.
Celtic wanted Mahmic before Tuesday night.
They should still want him now.
Key Takeaways
- Celtic have been negotiating a deal for Ermin Mahmic.
- The package could reach around £8.5million including add-ons.
- PAOK are now reportedly competing for his signature.
- Celtic’s Champions League exit could affect the finances of the deal.
- No credible report currently says Celtic have withdrawn.