The former Celtic midfielder and manager, though, does not see Dembele leave Celtic Park in the January transfer window.
The 69-year-old former Scotland international has also backed the young striker to get back to his best.
The 21-year-old France Under-21 international has not been at his best so far this season and has not looked sharp in front of him.
According to a recent report in The Daily Mail, Premier League club Brighton and Hove Albion are interested in signing Dembele from Celtic in the January transfer window.
It has been reported that Brighton are considering making a £20 million move for the former Fulham youngster.
Hay wrote in The Glasgow Evening Times while discussing Dembele’s disappointing performance against Anderlecht in the Champions League in midweek: “Regardless of all that, he's now been linked with a potential move to Brighton as interest still comes in for the 21-year-old, and I still firmly believe that he will eventually move on from Celtic Park for big money.
“Take his poor performance from Tuesday out of the equation, he's capable of anything on his day and he will get back to his best for Celtic.
“Do I see him going in January? No. Right now I'm not sure Celtic would get the best price for him, and with the World Cup looming, Dembele could be doing with playing regular first-team football rather than attempting to break into a new team.”
Celtic are going strong in the Scottish Premiership this season and have also dropped to the round-of-32 of the Europa League from the group stage of the Champions League.
Have something to tell us about this article?