Celtic will also cover the Czech striker's wages during Cvancara's loan spell, which, according to German journalist Florian Plettenberg, should amount to roughly one million euros gross by the end of the season.
"It’s a huge honour to sign for this club. We have a lot of challenges ahead and I’m ready to get stuck in and do everything I can to meet them and bring success to our fantastic fans. Celtic is one of the great names in world football and I’m delighted to be able to play my part here," Cvancara told the club website immediately after signing his contract.
Celtic manager Martin O'Neill also spoke about his new signing at a press conference ahead of Thursday’s Europa League match in Bologna.
Journalists asked him what role Cvancara would play in his system and mentioned the striker’s height. However, the experienced coach does not intend to make that his main asset.
"He’s not a target man you just lump balls up to. Trust me. He’s actually quite quick and mobile. He wants to show what he can do," said O'Neill about Cvancara, who scored one goal in 11 league matches during his loan at Turkish side Antalyaspor.
The Scottish coach also tried to ease the pressure that the Czech forward might face. "Is he the instant solution to our problems? I’m not sure about that. I don’t want to put that kind of responsibility on him," O'Neill added.
The Neratovice native, who has been with Borussia Monchengladbach since July 2023, has struggled in recent years to find the scoring form he once showed at Jablonec and Sparta.
In total, he made 54 appearances for the German club, scoring eight goals and providing two assists. Due to unfulfilled expectations, he was then loaned out to the aforementioned Antalyaspor.
Cvancara is also part of the wider national team squad, for whom he has already played eight matches and scored once.