West Brom have given Celtic permission to talk to manager Tony Mowbray about the Parkhead vacancy after agreeing a compensation package, the English club have confirmed.

EmpicsTony Mowbray: The former Celtic player is now manager of the Glasgow club.

Celtic chief executive Peter Lawwell targeted the Baggies boss, a former Celtic defender, as the replacement for Gordon Strachan who departed three weeks ago.

A possible appointment had been held up by West Brom's insistence that Celtic would have to meet their £2m compensation figure. But the figure has now been agreed in principle, and will rise if Mowbray decides to take West Brom assistant manager Mark Venus and first-team coach Peter Grant, a former Celtic team-mate, with him to Parkhead.

The package was announced by Albion chairman Jeremy Peace following talks with Celtic and Mowbray.

Peace said: "We do not want to lose Tony because he has been an integral part of a long-term project at the club which the vast majority of our fans have bought into.

"But Tony expressed his desire to talk to Celtic and now that the compensation figure in his contract has been met to our satisfaction that process can take place.

"If Tony decides to join Celtic he would leave with our good wishes and we would then immediately put into action the task of appointing a new manager who can take the club forward."

Former Celtic star Charlie Nicholas is happy with Mowbray's imminent return to Glasgow but insists the Parkhead club should have moved to get the deal done last week.

Nicholas told Sky Sports: I have to say I'm happy with it. Tony is very honest and a very devoted individual.

''I think it will be good news for Tony and the good news of the majority of Celtic fans, they don't all want him. But I'm amazed. Why did they not just do it a week ago?

''Why can't they simply say the most important person at the club is the manager of the playing staff and if the man is available a week ago, it's simple business. Don't muck about, get the business done.

''But typical Celtic, they have delayed it but if they have moved it on and got the deal done, I will be happy with Tony, Peter Grant and Mark Venus.''