Celtic winger Jota has been named the most valuable player in the Scottish Premiership, according to an updated market value ranking.

Football information site Transfermarkt has updated the market value of 99 players in the Scottish Premiership to formulate an MVP list.

The top ten is dominated by Celtic and Rangers with just five players outside of the Glasgow clubs in the top 50 market value according to the German website.

Jota surged to the top of the rankings in the most recent update after his value was increased to €12m as part of the recent changes.

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It takes him above previous Scottish Premiership MVP Ryan Kent who has seen his expected valued reduced from €14m to €11m as part of the latest update.

Celtic have five players in the top ten MVP list with Jota joined by Cameron Carter Vickers (€11m), Kyogo Furuhashi (€9m), Callum McGregor (€8m) and Matt O'Riley (€7m). 

Liel Abada is also rated at €7m but falls just outside the top ten at 12 in the Transfermarkt list.

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Carter-Vickers saw his value increase by €1.5m, Kyogo similarly saw a rise of €3m while Daizen Maeda was appraised at €6m, Hyeongyu Oh at €1.8m and Reo Hatate at €6.5m.

Rangers forward Kent - who had previously topped the MVP list - fell to second spot after his €3m decline in market value. He had been valued at an all-time high of €17.5m at the start of the season before subsequent downgrades in December and now in March.

However, he is still valued at €11m which is the highest of the five Rangers players in the Transfermarkt top ten ranking.

James Tavernier has also had his value lowered in the recent update, going from €10m to €8m according to the website database. January signing Todd Cantwell is also valued at €8m with John Lundstram at €7.5m and Connor Goldson on €7m.

Nicolas Raskin and Alfredo Morelos are just outside the top ten spots but share a market value of €7m.

Outwith Celtic and Rangers, there were significant changes in the market values for a number of Scottish Premiership stars.

Hearts forward Lawrence Shankland saw his value increase by €150k to reach €1m, Aberdeen's Luis 'Duk' Lopes also reached a €1m valuation - an increase of €500k. Elie Youan was a third striker to hit €1m after a €150k boost to his market value.

Motherwell prospect Max Johnston had his value upped by €175k to reach €450k and Hearts' Josh Ginnelly is now valued at €700k - up by €250k.

READ MORE: Inside Michael Beale's 8 Rangers contract discussions

Defining their market values model, a Transfermarkt statement read: "The Transfermarkt market values are calculated, taking into account various pricing models. 

"A major factor is the Transfermarkt community, whose members discuss and evaluate player market values in detail.

"In general, the Transfermarkt market values are not to be equated with transfer fees. 

"The goal is not to predict a price but an expected value of a player in a free market.

"Both individual transfer modalities and situational conditions are relevant in determining market values.

"Transfermarkt does not use an algorithm."

Transfermarkt Scottish Premiership MVP top ten

1. Jota €12m (plus €1m)

2. Ryan Kent €11m (minus €3m)

3. Cameron Carter-Vickers €11m (plus €1.5m)

4. Kyogo Furuhashi €9m (plus €3m)

5. Callum McGregor €8m (no change)

6. James Tavernier €8m (minus €2m)

7. Todd Cantwell €8m (no change) 

8. John Lundstram €7.5m (no change)

9. Connor Goldson €7m (no change)

10. Matt O'Riley €7m (plus €2m)