Celtic sign Tomas Cvancara from Monchengladbach on loan

Celtic have signed Czech striker Tomas Cvancara from Borussia Monchengladbach on a six-month loan with an option to buy, reportedly set at around £7 million.

Celtic will also cover the Czech striker's wages during Cvancara's loan spell, which, according to German journalist Florian Plettenberg, should amount to roughly one million euros gross by the end of the season.

"It’s a huge honour to sign for this club. We have a lot of challenges ahead and I’m ready to get stuck in and do everything I can to meet them and bring success to our fantastic fans. Celtic is one of the great names in world football and I’m delighted to be able to play my part here," Cvancara told the club website immediately after signing his contract.

Celtic manager Martin O'Neill also spoke about his new signing at a press conference ahead of Thursday’s Europa League match in Bologna.

Journalists asked him what role Cvancara would play in his system and mentioned the striker’s height. However, the experienced coach does not intend to make that his main asset.

"He’s not a target man you just lump balls up to. Trust me. He’s actually quite quick and mobile. He wants to show what he can do," said O'Neill about Cvancara, who scored one goal in 11 league matches during his loan at Turkish side Antalyaspor.