The former Everton and Rangers striker made the comments in the wake of Bournemouth reportedly set to release Ibe.
As reported by Sky Sports, Bournemouth will not renew the winger’s contract, and the former Liverpool man will leave the Premier League club on July 1.
According to The Scottish Sun, Celtic manager Neil Lennon is a “long-term admirer” of the former Liverpool winger and wanted to sign him last summer.
The report has claimed of the Hoops’ interest in the 24-year-old now, adding that the player himself is open to a move to Celtic Park.
Gray said about Ibe on The Keys & Gray Show: “It’s a huge fall. This young kid, he was so well thought of when he went to Bournemouth.
“I think Liverpool put a buy-back clause in because they thought he was going to reach heights, maybe not with them just then, but they wanted to have the ability to be first to buy him back. Let’s just say they are not exercising that buy-back.”
Good signing for Celtic?
Ibe struggled to make a huge impact during his time at Liverpool, and he did not live up to expectations at Bournemouth either.
There were games in which the winger did play well, but overall he could have done much better at the Cherries.
However, the Englishman is a very good player and is hugely talented, and a free transfer to Celtic would be a smart move for the Hoops, as he would make the squad better in their quest to win the Scottish Premiership title next season.