Celtic are on the verge of signing Iceland under-21 forward Holmbert Fridjonsson, after his club chairman revealed a transfer fee of £100,000 has been agreed, reports the Scotsman.

The 20-year-old has recently spent time on trial with Celtic, and Fram Reykjavik chairman Sverrir Einarsson has revealed the youngster is set to complete a January move to Celtic park, after the Scottish champions agreed a transfer fee.

“I can confirm that we have accepted a bid from Celtic for Holmbert," Einarsson said.

"I think this is a very good piece of business for Celtic and it is very good business for us. The player is discussing the move with his agent this evening.”

Fridjonsson is a different type of striker to what manager Neil Lennon currently has on his books. The youngster stands at 6ft 3 inches tall, and has an excellent goal scoring record in his homeland for someone so young.

Celtic are struggling to extend their involvement in European competition beyond Christmas, with last weeks defeat to Ajax proving particularly damaging.

Manager Neil Lennon has claimed he has been promised funds to improve his squad, particularly in the attacking department, and it seems the capture of Fridjonsson could be the first of several January signings.

“I do not know how much money we will have in January, but Peter has given us assurances that there will be money to spend,” Lennon said.

“Whether we can spend it and get the right player in is another thing. I have four strikers and they are strikers I want to persevere with — and I will. I want to work to try to improve the goal ratio.

“Up front is where players cost money and we will try to be inventive. You might get a finished article for £2million or £3million, you never know. We will shop around, but it is not just centre-forwards – there are other areas we want to improve."

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