Rafa Benitez won't be joining Celtic, according to Sky Sports' football reporter in England's north east.
The Newcastle United boss emerged as the bookies favourite to land the permanent job at Parkhead.
The Spaniard has a tense relationship with Magpies owner Mike Ashley but is set to meet club bosses this week to talk about his future at the club.
Keith Downie tweeted that the hope is that a new contract will be signed, while pouring doubt on Celtic's ability to meet the wages of Benitez.
The 59-year-old is a two-time La Liga winner with Valenica, while he led the Spanish side to Uefa Cup glory. He won the Champions League with Liverpool and Europa League with Chelsea and is regarded as an elite manager.
Downie posted: "Rafa meeting Newcastle bosses this week hoping to agree a new contract, plus his current wages make Celtic a non-starter."
A number of Newcastle fans replied asking why Benitez would leave the Premier League for a "pub league".
Newcastle finished 13th in the Premier League.
Meanwhile, it has been reported that former Premier League manager Carlos Carvalhal's representatives have been in touch with Celtic regarding their client's interest in the managerial position.