Sky Sports understands a number of clubs are tracking highly-rated Carlisle United midfielder Brad Potts.
Sheffield United are planning to send Andy Butler back out on loan after seeing an agreement with Walsall collapse.
The Ghana World Cup player will spend this season on loan in Glasgow, and Celtic have the option to make it a permanent transfer next summer.
Wakaso, who has also played for Spanish clubs Espanyol, Villarreal and Elche, has 19 international caps and featured against Germany and Portugal in Brazil this summer.
The 24-year-old will be available for Saturday's Scottish Premiership trip to Dundee.