Chief executive breaks silence on ‘indecent’ transfer collapse that cost Celtic £4m

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Celtic had a disastrous summer transfer deadline day.

The Hoops left themselves scrambling to sign players in the final hours of the window, namely a quality striker and a new winger.

They managed to secure Sebastian Tounekti for £5.2m late into the night, but failed to buy a replacement for Adam Idah, who left for Swansea City.

Celtic were embarrassingly forced to sign free agent Kelechi Iheanacho after the window had closed, and the whole thing has left fans seething.

And to make things even worse, Celtic were denied a £4m payday on deadline day.

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Genk chief could take further action over Oh transfer collapse

That’s because Oh Hyeon-gyu’s £24m transfer from Genk to Stuttgart collapsed at the eleventh hour, with the Germans concerned about a past issue with Oh’s knee.

Stuttgart pulled out of the huge deal, and that meant Celtic did not secure a sell-on fee of £4m having inserted a clause in Oh’s Genk contract when he left Parkhead in 2024.

Now, Genk’s chief executive Luc Hooybergs has warned that Genk may take further action over the failed Oh sale.

As quoted by freelance journalist Mark Walker, Hooybergs explained: “What happened with Oh Hyeon-gyu was indecent.

“He boarded a plane to Stuttgart after our match against Zulte Waregem. The transfer seemed like a formality, but suddenly there were signs that Stuttgart was internally questioning the £24 million fee.

“They then brought up a medical file from Oh from eight years earlier and suddenly wanted to renegotiate the deal, which wasn’t an option for us.

“Oh is in top condition and hasn’t had any injuries for years. So we are considering whether to proceed further with this. Nothing is ruled out.”

How has Oh fared after leaving Celtic?

In the summer of 2024, it was time for Oh to leave Celtic given his lack of opportunities under Brendan Rodgers the previous season.

He scored 12 goals in 47 games for the Bhoys before making a permanent switch to Belgian side Genk, signing a four-year contract.

Oh impressed from the off, and in the end netted 12 goals in 41 matches, a better record than his two seasons at Celtic combined.

Stuttgart were prepared to pay £24m for the South Korean, which perhaps begs the question as to why Celtic benched the striker so much in Glasgow.