West Bromich Albion have given Celtic permission to talk to manager Tony Mowbray about the Parkhead vacancy after agreeing a 5 million dollar compensation package in principle.
Celtic will also pay an additional compensation figure for assistant Mark Venus and first-team coach Peter Grant.
Mowbray had been one of three managers targeted by Celtic along with Burnley's Owen Coyle and Swansea's Roberto Martinez.
Mowbray played for Celtic between 1991 and 1995, straddled by spells with Middlesbrough and Ipswich, with whom he started his coaching career.
Gordon Strachan left Celtic at the end of the season after finishing second to Rangers.
