Former Celtic and Scotland defender Tom Boyd has insisted that there is no gamble in the Parkhead side shelling out £10m to secure the services of Odsonne Edouard on a permanent deal.

The 20-year-old French striker has intimated his wish to remain in Glasgow and Celtic manager Brendan Rodgers has repeatedly enthused about the prospect of working with the player again in the coming season.

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Parent club PSG have a pre-agreed deal with Celtic, believed to be around £10m which would require the Parkhead side to break their own transfer record which currently stands at £6m. The deadline to secure the deal was originally May 31st but has been extended to June 16th.

With PSG under scrutiny from UEFA in order to prove they balance revenue with spending, the impetus is on the French club to bank money for the player which would suggest that the likelihood of another loan deal is highly unlikely.

And while Boyd has acknowledged that the fee is eye-watering in Scottish terms, in the context of European football it is relatively unsubstantial.

“It is not [big money] in the realms of world football,” he said. “In terms of Scottish football, yes it is, but it is not a gamble going from what we have seen given that under the stewardship of Brendan he will only get better. Brendan has improved so many players within the ranks here and we have seen examples of that as players have developed.

“The manager will have seen him every day which gives him an insight into it. We have seen him in games, maybe not as much as we would have liked, but the best place to see him is on the training ground. That isn’t quite a game situation but it is a good reflection watching someone every day.”

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Celtic’s business model in recent years has put the club on a solid financial footing, a foundation that has been solidified by the club’s success in qualification for the Champions League group stages over the last two seasons.

“I think at this moment in time there is only one club who could afford that kind of money,” said Boyd. “That comes down to how well structured the club is and has been for a long time. The money is coming in because of the success on the park so we can budget that.

“I don’t know where it goes after that because the money at other clubs is frightening. But, listen, that is what you have got to do. Ask Brendan and he won’t see it as a gamble because he knows the player and knows his quality.

“At a later date he knows that he will have the potential to sell him on and I think we have done not too bad at that in terms of bringing players in and making them better and then selling them, mostly to the English Premier League. There are a lot of players going onto bigger things and getting more money.”

Boys was Celtic captain when the Parkhead side stopped Rangers from winning ten-in-a-row in 1998. Now, two decades on with Rodgers’ side galloping towards that figure, he has insisted that Celtic’s current position of lording it over the Ibrox side is something that no-one should take for granted.

Read more: Celtic release statement about Parkhead ticket allocations after Rangers cut

"I played in the early 1990s when we struggled along,” he said. "There will be older fans out there too, who remember the club struggling before Jock Stein came. So, this is a great time to be a Celtic supporter and player, with this success on the pitch.

"I would never take this for granted and no, I never thought at that stage that this could happen. But it's a testament to how the club is run, how professional they are and how they get the job done. This, under Brendan, has been unsurpassed in terms of the double Treble.”

A bigger challenge will be expected to come from Rangers this term with the arrival of Steven Gerrard. A summer of overhauling the squad will be anticipated but Boyd has insisted that his own feeling is that Neil Lennon’s Hibs gave Celtic the biggest run for their money last season.

Whether the Easter Road side can maintain that in the coming term remains to be seen given the players who are expected to leave Leith, but Boyd is optimistic that there will be a challenge put to Celtic.

Read more: Celtic manager Brendan Rodgers doesn't need Stevie G to motivate him​

“Who knows? It depends on the investment levels,” he said. “The best football team apart from Celtic last season was Neil Lennon’s Hibs. They gave us some fantastic games and thrilling ones to watch.

“There were plenty of goals.

Aberdeen finished second – will they get the investment levels again?

“I hope they all do get the money to challenge because it will help Scottish football if we have a stronger league.

“Obviously the financial thing is difficult to challenge Celtic.

“Celtic will concern themselves with bringing players in, selling them on and they are doing that ever so well. They are the best in Scotland at doing that and hopefully the model continues for many years.”