Celtic have failed in an audacious bid for David Trezeguet, with the former France striker instead opting for a move to the United Arab Emirates.
The 33-year-old has agreed a contract with a reported annual salary of £1.4m after passing a medical in Abu Dhabi to join Baniyas.
Trezeguet's contract with Hercules, who were demoted to the second tier in Spain, had expired this summer.
Celtic had entered talks after being alerted to his availability last week.
The Scottish Premier League club have also cooled their interest in Maritimo striker Baba Diawara, with the Portuguese club reporting visa issues.
Celtic say they will not be following up their interest in the present transfer window and have since signed Sierra Leone striker Mohamed Bangura for an undisclosed fee from AIK Stockholm.
Trezeguet was in the French side that lifted the World Cup in 1998 but announced his retirement from international football 10 years later after accumulating 71 caps.
He began his career with Platense before spells with Monaco, Juventus and Hercules.
However, he has now joined the side who finished second in the UEA's professional league after deciding he did not wish to live in Scotland.