Brendan Rodgers will leave Celtic after agreeing a three-year deal to become the new Leicester City manager.
The Northern Irishman has been in talks with the Premier League club today and an £6million compensation figure has been agreed between the two sides, according to the Scottish Sun.
Rodgers is now expected to be in the dugout this weekend for Leicester’s clash with Watford, having replaced Claude Puel.
It is reported that Rodgers believes Leicester are best team outside the top six to manage and that he feared that opportunity wouldn’t come around again.
Earlier on Tuesday, Celtic confirmed that they had given Rodgers permission to speak to the Foxes and that The scheduled press conference ahead of the team’s trip to face Hearts on Wednesday evening had been cancelled.
In a short statement the club made it known that Rodgers was keen to speak to the Premier League side over the vacant position and they had “very reluctantly” agreed to the request.
The Northern Irishman became the favourite for the job once Puel had been sacked.
The statement said: “Celtic Football Club today confirmed that it has been approached by Leicester City FC to speak to Brendan Rodgers with regards to their current managerial vacancy.
“Brendan has indicated to the Club that this is an opportunity he wishes to investigate further and therefore, very reluctantly, the Club has granted him permission to speak to Leicester City.”
It has been reported that ex-Celtic boss Neil Lennon would return as interim boss.
The former Hibs manager and Steve Clarke have been installed as joint favourites to be the Celtic boss come the start of next season.