Celtic majority shareholder Dermot Desmond

"We talk continuously about various things and when the time is right, then we will sit down and discuss his contract," Desmond told Celtic View.

"He is a tremendous asset and he has proved just a what a great commodity he is to the club over the last two seasons.

"There is a tremendous bond between Martin and the board and everyone is delighted with the success that he has enjoyed."

O'Neill worked wonders in his first season in Scotland, clinching the domestic Treble and last term won the SPL at a canter, although Celtic lost out to rivals Rangers in both cup competitions.