The 24-year-old joined Celtic last summer from Royal Antwerp following a prolonged transfer saga. The Scottish champions paid £4.5m for the Congo international, a fee some felt was on the high side.

Brendan Rodgers handed him his debut away at Ibrox in a goalless draw, but it proved to be a low-key introduction. Since then, he has made only 12 more appearances, registering two assists.

After returning from AFCON duty last week, Balikwisha was omitted from the matchday squads for fixtures against Dundee United and Falkirk. Ahead of the Falkirk clash, supporters noticed he had removed all Celtic-related content from his Instagram, including changing his profile picture.

Martin O’Neill has used the winger sparingly during his interim spell, suggesting he is not currently part of his plans. With Celtic short of attacking options on the bench and no injury concerns reported, his absence raised further questions.

UEFA issue fresh update as Rangers’ ‘extreme’ spending spree shows no sign of slowing

Rangers show no sign of easing off in the transfer market as investment continues to pour into Ibrox.

New owners Andrew Cavenagh and 49ers Enterprises have wasted little time making their presence felt in Scottish football, with bids totalling more than £10million already submitted.

Midfielder Tochi Chukwuani has joined from Sturm Graz in a £4million deal, while a move for Westerlo left-back Tuur Rommens is set to follow after Rangers had a £3million bid accepted.

That spending comes alongside an agreement to bring Wolfsburg winger Andreas Skov Olsen to Glasgow on a loan deal that includes an option to buy, underlining the aggressive intent of the club’s American backers.

UEFA position on Rangers’ spending

UEFA’s financial sustainability rules require clubs to keep squad costs within 70 per cent of their revenue, and Rangers were previously urged to avoid excessive spending following the change in ownership.

However, football finance expert Dan Plumley believes the Ibrox club are operating safely within the regulations at this stage. Speaking exclusively to Ibrox News, Plumley suggested Rangers are not currently on UEFA’s radar.

“It depends how far they go,” he said. “Extreme is a relative term when it comes to Rangers and Scottish football spending, but right now there’s nothing that indicates they’re a concern for UEFA.

“The squad cost ratio looks healthy based on the information available.”

Long-term balance still required

Plumley did stress that sustained heavy spending would require balance elsewhere, particularly through player sales or increased revenue.

“If they continue spending heavily, especially into the summer window, that has to be factored into long-term planning,” he added. “Clubs now work on three-year cycles under the regulatory framework. Spending big means you need to offset it—either through outgoing transfers or higher revenues.”