Celtic can attract a high calibre manager to replace “dead man walking” Neil Lennon – but it all depends on the budget allowed by powerbroker Dermot Desmond.

That is according to finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively after Lennon resigned as Celtic boss on Wednesday.

Lennon will be joined by long-standing chief executive Peter Lawwell, who is set to retire in the summer as Celtic look towards a top-to-bottom overhaul.

Football Insider revealed on Thursday that Mick McCarthy has been shortlisted for the vacant managerial position.

The likes of Eddie Howe, Frank Lampard and Steve Clarke have also been touted, though interim manager John Kennedy remains the bookies’ favourite.

Maguire claims Celtic’s hopes of attracting a top manager depends on how much main shareholder Desmond plans to financially back the next boss.

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“A lot will depend upon Desmond,” he told Football Insider correspondent Adam Williams.

“He will ultimately be the person who will sanction the level of budget for next season. If Celtic want to attract high-calibre managers, the first question the manager’s going to be asking is: ‘What have I got to play with?’

“Yes, they’ve suffered as a result of not having fans at Celtic Park, but so has every other club in Europe so they are no better or worse off in that regard.

“I don’t foresee it being a problem in terms of them getting non-playing staff in. Also, it gets rid of the elephant in the room in that everybody knows that Neil Lennon was a dead man walking.

“Now that he’s formally resigned, instead of interviewing people in a more clandestine manner, at least the club can go through a more formal route and not be seen to be operating behind Lennon’s back.”

Lennon tendered his resignation after a 1-0 defeat to Ross County last Sunday.

Interim boss Kennedy won his first match in charge of the Hoops by the same scoreline, defeating 4th place Aberdeen at Celtic Park.

In other news, an ex-Celtic ace has named four players who won’t be at Parkhead next season.