CELTIC have been warned they are “running out of time” in their race to sign Peterborough striker Ivan Toney.

Barry Fry, the English League One side’s director of football, has claimed another club are on the verge of completing a deal for the 24-goal hitman, the leading scorer in the third tier last season.

Brentford made an offer for £10million-rated attacker who cost only £350,000 when he joined from Newcastle two years ago.

However, they saw their hopes of a Premier League place obliterated last night when they lost 1-0 to Fulham in the Championship play-off that wiped millions of pounds off their transfer war chest.

The Hoops reportedly made a £5million offer for Toney last week which was immediately dismissed by Posh with the player still having another year to run on his contract.

Fry, speaking to the Daily Mail, said: “They (Celtic) are running out of time now.

“The lad is very close to signing for someone else in the next couple of days. Celtic would have been his preferred choice, but they are nowhere near it.

“I heard from Ivan’s agent to say Celtic were coming back. That was Sunday evening after their first game.

“They had heard Celtic would be coming back, but I haven’t heard anything.”

Neil Lennon is looking to strengthen his firepower options with Vakoun Bayo on the brink of agreeing a season-long loan deal with French outfit Toulouse.

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