Former Aberdeen chief executive Keith Wyness believes Celtic can afford to appoint Kieran McKenna, despite the £8m compensation potentially owed to Ipswich Town. 

However, Wyness correctly points out that it would cost more than £8m to secure Kieran. After compensation you have wage packets for Kieran and all his preferred coaches which would take it well over £10m if they were to go get him mid season.

McKenna is taking a break from management after leaving Portman Road in the summer, with his name continuing to feature in speculation over Celtic’s longer-term plans.

Martin O’Neill remains in charge, having signed a one-year contract with the option of another season in June. That option means a managerial change next summer is far from a certainty.

Wyness, however, believes Celtic should be prepared to invest in someone of McKenna’s standing if they decide to make an appointment.

Speaking on Football Insider’s Inside Track podcast, he said:

“Yeah, look, there’s no doubt they could afford him. What would his other demands be in terms of backroom staff and squad changes, et cetera?

“That’s how you got to price a new manager in terms of the overall cost. I don’t think there’s any question they could afford his wages.

“I know there is a payoff still to Ipswich that I believe is still going to be there. They may choose to wait until that lapses.

“But, you know, I think if I’m Celtic, I’d be spending the money to get somebody like McKenna in there.”

The compensation issue is worth explaining. Being out of management does not necessarily mean McKenna can immediately join another club without a payment to his former employers.

Sky Sports reported when he stepped down in June that Ipswich had financial protection should he accept another role within 12 months. At that point, Sky put the compensation figure at around £8m.

A move next summer could fall outside that reported 12-month period, depending on its timing. That makes the situation interesting, although it offers no guarantee that McKenna would choose Celtic or that the club will pursue him.

O’Neill’s return was initially about providing stability after Brendan Rodgers’ departure. He stepped aside for Wilfried Nancy, then returned when that appointment unravelled, before earning the opportunity to continue this season.

Whatever happens next, Celtic need their planning to extend beyond finding someone to get them through the next difficult period.

Wyness is right that the salary alone would only be part of the calculation. A new manager would also need a coaching team and a clear recruitment plan.

If Celtic see McKenna as the right man, they need to work out the full cost of giving him a chance to succeed.