Celtic manager Martin O’Neill has confirmed that he will soon sit down with the club’s board of directors to discuss terms for a new contract.

The news will come as a relief to the club who will have been concerned at the prospect of losing one of the most highly-regarded coaches currently working in British football.

The former Leicester boss has been linked with several clubs in England, most notably the recent Leeds United vacancy at Elland Road which was eventually filled by Terry Venables. However, O’Neill has always maintained that he would not break his contract with Celtic.

‘I’ll be sitting down very shortly with the board and I hope it will be days, rather that weeks, and weeks rather than months. Itshould be resolved pretty quickly.”

O’Neill has dismissed suggestions that he may be tempted to quit the club due to the financial constraints expected to be imposed in the wake of Celtic’s shock failure to qualify for the Champions League.

“I’ve said before that I would wait until after the Champions League matches,’ he added. ‘It will materialise soon and I don’t think that (financial prudence) will have too much bearing on it.

“Despite the size of this club, there is a lack of finance around in general terms. I’ll just have to deal with that as I have been doing for the last few years.”

“I will discuss my situation with the board and will give an update as soon as possible.”

“I’m sure the directors will summon me for a board meeting and I am very happy to do so,” he said.

“I’ll be sitting down with them and making sure things will go fairly, amicably and favourably,” O’Neill told shareholders at the club’s annual general meeting.

Celtic chairman Brian Quinn sounded upbeat when discussing a deal to keep O’Neill at the club.

“We will do all we can to keep Martin at Celtic Park,” said Quinn.