Balde has a year of his contract to run but has played only 14 times for the Parkhead club in the past two seasons.
And the Scottish champions are willing to release him for free if he can find a club to move to.
"I enquired about his availability before the end of last season," McCarthy added.
"I had watched Celtic play against Rangers and I just asked a question then about what his financial position was.
"Balde has always been one I've liked because he is a big, powerful centre-half."
Bolton were interested in Balde in January but the player picked up an injury at the African Nations Cup.
This time last year, Balde turned down an approach from Sunderland, who were prepared to pay £1.5m for him.
Balde moved to Celtic Park from Toulouse seven years ago and flourished under former manager Martin O'Neill.