Celtic's transfer business has been under scrutiny over the last three summers.
A report by the CIES Football Observatory ranks Celtic's squad value 97th globally, worth €141m [£122.68m], surpassing teams like Botafogo, Lokomotiv Moscow, Dinamo Moscow, and Espanyol.
Celtic's squad is worth more than several notable teams.
Celtic's ranking compared to Rangers is noted in the report, published by the CIES Football Observatory.
Author's summary: Celtic ranks 97th globally.