Celtic’s pursuit of highly-rated defender Zinedin Smajlović has been thrown into serious doubt after Greek giants Olympiacos emerged as strong contenders to hijack the deal, leaving the Scottish champions facing the prospect of missing out on one of their priority summer transfer targets.

The 22-year-old Swedish Under-21 international has established himself as one of the most promising young defenders currently playing in Scandinavia. Standing at 6ft 3in, the Sandefjord centre-back has attracted attention from several clubs thanks to his commanding physical presence, defensive awareness, and ability to play comfortably from the back.

For much of the summer, Celtic appeared to be in pole position to secure Smajlović’s signature. The Glasgow club identified the defender as a key target as they look to strengthen their back line ahead of another demanding campaign both domestically and in Europe.

However, despite their long-standing interest, Celtic have yet to reach an agreement with Sandefjord. Reports from Celtic sources, including Celts Are Here and the Daily Record, indicate that the Scottish champions submitted an opening offer worth £3.5 million. That proposal was quickly rejected by the Norwegian club, who remain firm in their £4.5 million valuation of the player.

While a difference of less than £1 million would not normally be viewed as a major obstacle in modern football transfers, the gap has so far prevented a breakthrough. That delay has opened the door for rival clubs to make their move.

Now, according to Greek outlet Gazzetta.gr, Olympiacos have entered the race aggressively and are very close to stealing the deal from Celtic. The report suggests the Greek powerhouse has accelerated negotiations in recent days and believes it can secure an agreement before Celtic return with an improved offer.

The development has dramatically altered the landscape of the transfer battle. What initially looked like a straightforward move to Glasgow is rapidly turning into one of the most intriguing transfer sagas involving a young Scandinavian talent this summer.

Olympiacos have built a reputation for acting decisively in the transfer market when key targets become available. The Greek giants are eager to strengthen their squad ahead of the new season and reportedly view Smajlović as a player capable of becoming a cornerstone of their defence for years to come.

The club’s willingness to move quickly could prove decisive. While Celtic continue to assess their next move, Olympiacos appear prepared to meet Sandefjord’s expectations and push negotiations toward a conclusion.

For Celtic supporters, the possibility of losing Smajlović over such a small valuation gap is becoming an increasingly frustrating talking point. Many fans believe the defender possesses the profile required to succeed at Celtic Park and argue that the club should move swiftly to avoid missing out on a player who has been extensively scouted.

There is also concern that failure to complete the deal could send the wrong message during a transfer window in which strengthening the defence has been viewed as a priority. Competition for quality young centre-backs is fierce across Europe, and opportunities to sign players with Smajlović’s potential do not arise every day.

From Sandefjord’s perspective, the situation is ideal. The Norwegian club are under no immediate pressure to sell and can afford to remain patient while interested clubs compete for the player’s signature. Interest from Olympiacos has only strengthened their negotiating position and reinforced their determination to hold out for the full £4.5 million asking price.

Meanwhile, Smajlović continues to focus on his football despite the growing transfer speculation. The defender’s performances have done little to cool interest, and many observers believe he is ready to take the next step in his career.

His combination of height, strength, composure, and technical ability has made him one of the standout defensive prospects in Norway. At just 22 years of age, he also offers significant room for development, making him an attractive investment for clubs seeking both immediate quality and future resale value.

For Olympiacos, completing the deal would represent a significant coup and a clear statement of ambition. Beating Celtic to one of their primary targets would underline the Greek club’s growing confidence in the transfer market and strengthen their squad ahead of important domestic and European challenges.

For Celtic, however, the coming days may prove crucial. Club officials must now decide whether to increase their offer and match Sandefjord’s valuation or risk watching a carefully identified target slip through their fingers.

With Olympiacos reportedly closing in, Sandefjord standing firm, and Celtic facing mounting pressure to act, the race for Zinedin Smajlović is reaching a decisive stage. Unless the Scottish champions move quickly, one of their most coveted defensive targets could soon be heading to Greece instead, completing a transfer hijack that few saw coming just weeks ago.