West Brom are still hopeful of holding on to manager Tony Mowbray despite confirming an approach from Celtic.
Chairman Jeremy Peace revealed on Monday that the Clydesdale Bank Premier League giants had been in touch as they stepped up their search for a successor to Gordon Strachan.
"After two weeks of speculation, I have finally received a call from Celtic chief executive Peter Lawwell, requesting permission to speak to Tony," said Peace. "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."
A move to Parkhead is likely to be appealing to Mowbray, who spent four years with the Hoops during his playing career and impressed in a two-year spell as Hibernian manager before joining Albion in 2006.
However, the 45-year-old appealed for loyalty from his players following their relegation from the Barclays Premier League last month and Peace is hoping Mowbray will show the same commitment he has demanded of his squad.
Peace confirmed there is a compensation clause in Mowbray's contract, which is believed to be £2million.
"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," continued Peace.
"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."
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