Ange Postecoglou wants to add more forward options to his Celtic squad this summer and Michut has been a big target.
They have been in contact with PSG to enquire about the possibility of getting their hands on the 19-year-old in the ongoing transfer window.
The Parisians are prepared to do business but want £5m in transfer fees and a 25 per cent sell-on clause as part of the deal.
It has been claimed that Celtic have not made any further moves to push forward with the pursuit of Michut.
He is still a target but the Scottish champions are now considering their options given their limited budget.
Celtic have already spent around £17.5m on players and do not want their budget to exceed the £20m mark this summer.
A move for Michut would take their spending beyond the limit they have set for the ongoing transfer window.
Postecoglou is pushing the club to bring in more players and also wants one more ball-playing centre-back added to his squad.
