Celtic plc chairman Brian Quinn has assured supporters that manager Martin O'Neill will not be replacing Manchester United manager Sir Alex Ferguson at the end of the season.
The Irishman was believed to be a leading candidate in the race to succeed Ferguson when he retires at the end of the year.
But Quinn maintains that the Old Trafford club have personally informed him that O'Neill will not be pursued to take over at the club.
Quinn added: "I have heard directly from the chairman of Manchester United PLC (Roland Smith) that newspaper talk about Martin O'Neill is greatly exaggerated and without foundation."
But the Celtic PLC chairman played down talk of trying to tie down O'Neill down with an extension to the two years remaining on his current deal.
"Martin's not agitated by this at all," explained Quinn. "It might sound strange but he worries more about his ability to continue to deliver.
"He lives in a pretty precarious world too and I don't doubt when he thinks the time is right he will come down and see me about his future. But we are very conscious of the value of Martin O'Neill to Celtic."
Quinn, meanwhile, stressed that O'Neill has been told that he has money to spend, but refused to disclose how much.
He said: "Martin O'Neill knows how much he has to spend. You've got to give management, whether it's football management or the general management of a company, the general parameters of how much they can spend.
"Then you give them the flexibility of how you want to use those resources to the best effect, so Martin knows."
The Celtic fans had their say at the AGM but will have to wait for a vote to discover if they can have a member elected onto the board of directors.
PA