Motherwell have announced that they have agreed terms for the transfer of David Turnbull to Celtic for a fee STV understands is in the region of £3m.

The club say that they will receive a club record transfer if the player makes the move, banking "significantly" more than the £1.75m they received for Phil O'Donnell in 1994.

Turnbull and his representatives will now discuss personal terms with the treble winners.

In a statement on the club website, a Motherwell spokesman said: "Motherwell Football Club has reached an agreement with Celtic FC for the potential transfer of David Turnbull.

"The academy graduate has been given permission to speak to the club. Should the deal go through, the value of the transfer will vastly exceed our previous record fee received.

"We have rejected several seven-figure offers for David in recent weeks, with clubs the length and breadth of the UK speaking to us about him. It is clear from that the fee we stand to receive fully maximises his potential value.

"We have continued to stand by what we believe is a fair value for David. In light of the negotiating stance we have adopted, the money we stand to receive will be transformational for us as we continue to operate as a fan-owned club.

"Motherwell FC will make no further comment at this time."

It's understood Motherwell rejected an opening £1m bid from Celtic in recent weeks as well as a higher offer from English Championship side Barnsley.

The Fir Park club were firm in their position it would take a package of more than £3m to prise away the 19-year-old, who has two years left on his contract at Fir Park.

Last month Motherwell's chief executive Alan Burrows made the club's position clear, saying they they knew the value they placed on the player.

"We will only consider offers of significantly more than our record fee received," Burrows tweeted.

"We will sell him on our terms."

Turnbull scored 15 times in 30 Premiership games last season.