Celtic have agreed a compensation fee with Yokohama F Marinos for their manager Ange Postecoglou.

What's the story?

The Premiership giants have applied for an exemption with UEFA for the 55-year-old tactician to be allowed to take a job in Europe. Postecoglou doesn't currently hold the required UEFA Pro Licence, but it's possible to apply for a "recognition of competence procedure" to bypass the issue.

According to Sky Sports, the Hoops are confident that the former Australia national team manager's extensive career at club and international level will see him granted an exemption and have reportedly agreed a compensation fee with the Japanese club to pave the way for his move to Parkhead.

"Mr Postecoglou does not currently hold the UEFA Pro Licence," said a UEFA spokesperson.

"A recognition of competence procedure has been initiated. The process could take several weeks. We don't have any further information to provide at this stage."

Fans will be buzzing

Celtic have been without a permanent manager since Neil Lennon resigned back in February following a horrendous run of form. The Glasgow side were hoping to win a record-breaking 10th league title in a row last season, but an awful campaign saw them finish 25 points behind fierce rivals Rangers.

Several first team stars are expected to depart Parkhead over the coming months, with the likes of Odsonne Edouard, Ryan Christie and Kristoffer Ajer approaching the final 12 months of their current contracts and linked with moves away, meaning a major squad rebuild could be needed over the summer.

It's a daunting task for Postecoglou, although his 25 years of managerial experience should stand him in good stead.

The proposed appointment of the 55-year-old came as somewhat of a shock after many household names were originally linked with succeeding Lennon, including Rafael Benitez, Roy Keane and Roberto Martinez.

Eddie Howe came closest to filling the vacant hot seat before talks collapsed, and although Postecoglou's arrival may not please some supporters, many will surely be happy to see a new manager finally installed as Celtic aim to wrestle back their Premiership crown.

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