Celtic chairman Brian Quinn insists there is still a possibility that wantaway midfielder Stilian Petrov will remain with the Scottish champions.
Stilian Petrov's move to Portsmouth has faltered
Portsmouth have had a £5m bid rejected by Celtic, while speculation has linked him with interest from Monaco.
But Quinn told BBC Sport: "We hope to resolve the situation to the satisfaction of both Celtic and Stilian Petrov. Maybe he will stay at Celtic.
"He will certainly remain part of the team until anything else happens."
Quinn expressed his surprise at Petrov's decision to demand a transfer at the end of the season.
"I'm puzzled rather than disappointing," he said.
"It was a radical change of his position in such a short time when this was all settled in January after he signed a new contract."
Quinn also defended Celtic against accusations of penny-pinching in the transfer market.
"We're spending more this close season than any other club in Scotland," he said.
"We're going to the limit of our ability and any money we make will go straight to the manager."
Meanwhile, manager Gordon Strachan played down suggestions that Petrov was no longer showing commitment to Celtic on the field of play.
"In the last three matches, he has been absolutely huge," he insisted.
"He was not meant to be here, but here he is playing heart out for Celtic."