The 27-year-old joined the Scottish giants from Milan on loan during the summer. Laxalt has made seven Scottish Premiership appearances and has scored once.
The Uruguayan has been a success at Celtic so far, which has naturally led to talks over whether he could join the club permanently this summer.
Milan are reportedly willing to sell Laxalt. The 27-year-old does not appear to be part of their long-term plans, and the Italian club will also need to offload players to comply with Financial Fair Play rules.
However, it is unlikely that they will be willing to sell the South American for a cut-price.
Whether Laxalt remains with Celtic could depend on the future of manager Neil Lennon.
Lennon’s future is in doubt, as defeat in the Old Firm last weekend has left Celtic 19 points off the pace. Reports are already circulating that the former midfielder could be sacked before the end of the month.