West Brom chairman Jeremy Peace has made it clear to Celtic that they will not be able to prise away manager Tony Mowbray on the cheap. Celtic have finally approached Albion for permission to speak to Mowbray as they seek a successor for Gordon Strachan.

But Peace, in addition to being keen to keep Mowbray, has stressed that Celtic will have to pay the going rate for someone of Mowbray's qualities if he is to leave The Hawthorns.

It is understood the Baggies are looking for €2.3million in compensation for the 43-year-old Mowbray if it becomes clear he wants to take on the challenge at Parkhead.

Peace said: "After two weeks of speculation, I have finally received a call from Celtic chief executive Peter Lawwell, requesting permission to speak to Tony.

"I made it absolutely clear that Celtic's approach was not welcome, because we have an ongoing project at Albion in which Tony is an integral part.

"We inserted a compensation fee when Tony signed a new contract 16 months ago to ensure the club would be suitably recompensed in the event of any other club seeking his services.

"Most people would regard it as a fair figure. It was inserted in the contract in good faith and is non-negotiable, because we don't want to lose our manager.

"Celtic have been made aware of the compensation figure, and if they agree to pay this, only then will I speak to Tony to get his thoughts on the situation.

"Until, and unless, that happens, as far as we are concerned, it is business as usual as we plan for a very important season ahead of us.

"We hope this is the end of the matter, as we do not need any further, unwelcome distractions from the job in hand."

Mowbray preached the loyalty card to his players at the end of the season in the hope they would to help Albion try to achieve top-flight football again.

Now it remains to be seen whether he will show the same commitment as he wants from his players, or whether the lure of rejoining the club he spent four seasons with as a player in the 1990s is too great.

Celtic are also aware of the excellent job Mowbray did at Hibernian before he moved to Albion two and a half years ago as a replacement for Bryan Robson.