Brendan Rodgers would land a contract that exceeds his previous wage at Celtic if he agrees a deal to return to the club as manager.
The Northern Irishman has emerged as the leading candidate to succeed Ange Postecoglou and talks have advanced over the last couple of days.
High-level Celtic officials travelled to talk to Rodgers at the weekend but since those initial discussions, club owner Dermot Desmond has flown to Glasgow and talks have escalated.
Rodgers enjoyed a successful spell as manager from 2016 to 2019, winning all seven domestic trophies before leaving for Leicester City. If he completes a deal to return, he would enjoy a bumper contract that exceeds the one he left four years ago.
Celtic began their recruitment process when Postecoglou agreed to take over at Spurs, and Rodgers was on an initial list of candidates along with Manchester City assistant Enzo Maresca and Bodo/Glimt boss Kjetil Knutsen.
Rodgers began his coaching career at Chelsea and then moved on to manage at Watford, Reading and then Swansea City.
He was appointed as Liverpool boss in 2012 and was close to winning the Premier League title in his second season in charge.
In 2015, with the club tenth in the table and without having won any silverware at the club, he was sacked.
Celtic offered him a return to management the following summer, his appointment as successor to Ronny Deila being widely hailed as a coup for the club.
Rodgers won the treble in his two full seasons in Glasgow, going an entire Premiership season undefeated with his 2016-17 ‘Invincibles’ team.
Celtic were top of the league and had already won the league cup when he left to fill the vacancy at Leicester City.
During his time at the King Power Stadium, Rodgers took the team to two fifth-placed finishes and an FA Cup but left by mutual consent in April.