FORMER Celtic striker Moussa Dembele is closing in on a January switch to Spanish giants Atletico Madrid - but under the terms of the agreement, the Hoops WON'T receive any money this month.

The French striker completed a move from Fulham to Parkhead in 2016 and spent two years in Glasgow before departing for Lyon in his homeland for a fee of around £20million.

Glasgow Times:

READ MORE: Moussa Dembele closing in on Atletico Madrid move, admits Lyon director

Celtic included a clause in that deal that said the Premiership champions would be due a sizeable chunk of any transfer fee, should Dembele move on from the Ligue 1 outfit.

However, that windfall won't arrive during this transfer window even if the Frenchman does complete his move to the Spanish capital.

As it stands, Dembele is set to join Atleti on loan deal initially, with the Spaniards inserting an option to sign the striker permanently for a pre-agreed fee once the loan expires.

Glasgow Times:

READ MORE: Nikica Jelavic on what Rangers can do TODAY to 'have one hand on title'

That means money won't change hands until the off-season - and Celtic will have to wait for the permanent transfer to go through until they'll get their cut.

However, if Dembele struggles under Diego Simeone and the manager decides not to keep him at the club, the 24-year-old will return to Lyon in the summer - and Celtic won't get a penny until the forward is eventually sold.