Rayo Vallecano have started talks over the loan of Celtic winger Luis Palma.
And the Spanish club wants a purchase option that allows them to buy the Honduran international for £2.1 million.
Brendan Rodgers is narrowing down his search for a new left winger this month.
And, despite appearing as a second-half substitute in Celtic's 2-0 win over Dundee United on Wednesday night, the 24-year-old has fallen down the pecking order and wants to try his luck elsewhere.
Linked with MLS clubs, Spanish publication Estadio Deportivo claims that Vallecano has already secured the deal with Palma.
They will now enter into negotiations with Celtic in a bid to complete a deal.
Rayo Vallecano has started talks with Celtic about the loan of winger Luis Palma
Stephen Welsh has moved to Belgian Pro League side KV Mechelen until the end of the season
The Parkhead club have already agreed a £4.5m deal to sell left-back Alexandro Bernabei to Brazilian club Internacionale.
Norwegian midfielder Odin Thiago Holm will also be on loan at MLS side Los Angeles FC, while central defender Stephen Welsh has moved to Belgian Pro League side KV Mechelen until the end of the season.
As first reported by Mail Sport, Atlanta United are also interested in landing Kyogo Furuhashi in a £9.5million deal, with the Japanese attacker keen to secure one final payday.
With crucial Champions League matches against Young Boys and Aston Villa on the horizon this month, Celtic could delay departures until the end of the window.