Quinn said initial talks had already been held over the new package and he is hoping O'Neill will soon commit his future to the club by at least three more years.

He told BBC Radio 5 Live's Sportsweek: "We've already had preliminary discussions with Martin about what a contract might look like.

"But his view is that he wants to get the Old Firm game out of the way. There's then a period of 10 days to two weeks where there are no games in the Scottish Premier League and that's the time he wants to sit down.

"Rather than be distracted by day to day pressures he wants to sit down with us and talk about terms and we're ready to do that whenever he is.

"I can't put a number on it, but he has been making more positive noises himself in the recent past. I trust that means he is ready to sit down and do some serious business with us.

"It certainly won't be one year. We want to be able to agree with him that he would want to stay at Celtic for something like three or four years."