Frank McAvennie is adamant the Celtic board and Neil Lennon came to a financial settlement behind the scenes before his departure was confirmed.

The former Hoops and St Mirren striker, speaking exclusively to Football Insider, suggested the 49-year-old would not have walked away from his contract without payment.

Celtic announced this morning that Lennon has resigned from his position as manager with the club 18 points behind Rangers in the Scottish Premiership.

However, the Daily Record report that the board told him his time was up on Tuesday night following crisis talks after Sunday’s 1-0 loss at Ross County.

Lennon’s assistant John Kennedy has been placed in temporary charge of the first team until a successor is appointed.

When asked by Football Insider for his initial thoughts on Lennon’s departure, McAvennie said: “Everyone knew it was coming. It was just a matter of when.

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“They have obviously sorted something out financially behind the scenes. You cannot just walk away when there is that much money involved.

“I think it had to come to an end though. Everyone blames the manager so Lenny has had to take the brunt of it.”

Celtic

In a statement on the club’s website, Lennon said:“I have worked as hard as ever to try and turn things around, but unfortunately we have not managed to get the kind of run going that we have needed.

“I have always given my best to the club and have been proud to deliver silverware to the Celtic supporters. The club will always be part of me. I will always be a Celtic supporter myself and I will always want the best for Celtic.”

In other news, Alan Hutton names the Celtic player who was wasted by Neil Lennon.