Arsenal's pursuit of Kieran Tierney remains on track despite their blockbuster move for Nicolas Pepe.
Unai Emery was reportedly working on a reduced transfer budget of £45million this summer but the Gunners have agreed a eye-popping £72m fee for the Lille winger.
A significant chunk of the club's signing kitty has been set aside in their quest to land Tierney and insiders insist the move for Pepe will not affect any deal for the Celtic star.
The Hoops have rebuffed two approaches for the £25m-rated left-back but Neil Lennon admitted on Friday that his side have a contingency plan if Arsenal come up with the right offer.
The Gunners secured Real Madrid midfielder Dani Ceballos on a loan deal and also completed a £27m move for St Etienne defender William Saliba, with the 19-year-old returning to his former club for the 2019/20 season.
And BBC's David Ornstein admits a move for Tierney will likely complete Emery's summer business unless some big earners are removed from the wage bill.
He told 5 Live: "The club's transfer business after this could be limited because this will take a significant chunk out of their budget.
"Of course, we know, they are still interested in Kieran Tierney of Celtic.
"The clubs need to come to an agreement on the structure of payment if that's going to happen.
"Arsenal are pretty much at the asking price but not in the structure Celtic want.
Ornstein also admits an upgrade in central defence is unlikely to happen unless Emery manages to clear the decks before the transfer deadline.
He added: "Many fans and commentators will point out they must strengthen in defence but I think Arsenal need to see some departures now, even if they're not big name departures, to free up some finance to allow that happen.
"I'm sure it's going to be a busy couple of weeks in the transfer window at the Emirates."
