Brendan Rodgers would be allowed to leave Celtic for Arsenal, the club's majority shareholder Dermot Desmond has confirmed.
Rodgers is reportedly among the leading candidates to take over at Arsenal after veteran French manager Arsene Wenger said on Friday he will leave at the end of the season.
The former Liverpool boss has regularly knocked back speculation linking him with a return to the Premier League.
But Desmond indicated Celtic would be open to allowing Rodgers to take over at Emirates Stadium if the 45-year-old was to be approached.
"I'm glad he's the favourite [with bookmakers]. He's an outstanding person," Desmond told Sky Sports.
"We wouldn't want him to leave but we won't force him to stay. Hopefully his love for the club and the set up here will induce him to stay at the club.
"I don't think you can put handcuffs on anybody if they want to go to a club as good as Arsenal. It will be Brendan's decision and his decision only."
Former club captain Patrick Vieira and Germany coach Joachim Low are among the other names reportedly in the frame for the Gunners job.
Wenger named New York City FC coach Vieira, who won three Premier League titles at Arsenal, as a potential successor at a news conference on Thursday.
Speaking to reporters prior to Wenger's announcement, Rodgers intimated he is not seeking to leave Celtic, where he won a domestic treble last season, a feat he could repeat this term.
"There's still a lot of work for me to do and achieve on and off the pitch," said Rodgers. "But you can only do that if you're happy, and I couldn't be happier at this club and the support I get from the board.
"It's all very aligned and very clear and that allows me to work in confidence and it gives the stability to the team, the staff and everyone, and we can all move forward."
|´Amateur´ DFB needs Lahm´s help - Rummenigge|
|Horner expects Ricciardo new deal ´pretty quickly´|
|Diakhaby swaps Monaco for Huddersfield|
|Tottenham´s Lamela signs to 2022|
|Atletico´s Rodrigo excited to wear Simeone´s 14|
|F1 Raceweek: Red Bulls steal show from Mercedes but Ricciardo to start from back|
|Fakhar hits historic double hundred as Pakistan thrash Zimbabwe|
|Roma president Pallotta hit with three-month UEFA suspension|
|Hamburg extend contract of coveted youngster Jann-Fiete Arp|
|Steady start for Kisner as Woods endures mixed day at Carnoustie|
|Zach Johnson: Dustin comparisons are unfair|
|Neymar backs Tite for Brazil despite World Cup failure|
|Vinicius wants to play with ´idol´ Neymar but Perez calms transfer talk|
|One hundred not out for Els at The Open|
|Magnificent Maharaj takes eight wickets to stymie Sri Lanka|
|If I lose I´ll go down swinging - McIlroy ready for Carnoustie battle|
|UEFA confirms AC Milan reinstated to 2018-19 Europa League|
|Fleetwood: Open Championship is the one for me|
|Canberra coach Stuart brands bunker ´waste of time´ after controversial Cronulla loss|
|Son signs five-year Tottenham extension|
|Fleetwood cards fine 65 to share Open lead|
|WATCH: Evra belts out Bocelli in Ronaldo welcome video|
|I´ll always carry Roma in my heart, says Liverpool signing Alisson|
|CAS overturns AC Milan´s Europa League ban|
|McIlroy and Johnson on the move as Woods troubles Carnoustie spectators|
|Caleta-Car race won by Marseille|
|Hurricanes hold off Chiefs to reach final four|
|Bairstow: Unfair to compare England Test and ODI teams|
|Criticism is a weapon of the weak – Dani Alves defends Neymar|
|Thomas drops shot as McIlroy endures testing morning|
|Hazard is Chelsea´s best player and we need him – Fabregas|
|Mercedes & Bottas agree multi-year deal|
|Neymar backs ´genius´ Ronaldo to make Serie A great again|
|Sanchez to face San Jose Earthquakes as Mourinho grows desperate in attack|
|Ibrahimovic to watch England at Wembley – Zlatan will honour Beckham bet|
|Cubs use five-run fifth inning to trump Cardinals|
|Manchester United 1 America 1: Mata salvages draw for Red Devils|
|Steelers´ Super Bowl window getting smaller - Brown|
|Neymar cares about PSG and will stay amid Real Madrid speculation|
|NFL, NFLPA at ´standstill agreement´ over anthem policy|
|Guardiola: It would´ve been a mistake for Jorginho to join City|
|Angels star Ohtani cleared to resume pitching|
|´I don´t give a f***´ – Cousins hits back at critics after Warriors move|
|Merritt leads Barbasol Championship|
|Ruud awakening for Ferrer in Bastad|
|Nibali withdraws from Tour de France with back fracture|
|Fabinho: I´ll try to convince Mbappe to join Liverpool|
|Beating Messi boosted France´s World Cup belief – Lloris|
|Carnoustie saving the worst until last|
|McIlroy´s youthful exuberance could be a bad sign for Carnoustie contenders|
|Saints triumph at second-placed Wigan|
|Anfield atmosphere sweetened Alisson on Liverpool|
|Bouchard reaches Gstaad quarter-finals|
|´What are you waiting for?´ - Alisson reveals Salah text messages|
|´Full package´ Alisson could not be missed - Klopp|
|Alisson to Liverpool: Brazil star becomes most expensive goalkeeper in history|
|Alisson to Liverpool: Brazilian´s stats blitz Mignolet, Karius|
|Liverpool sign Alisson in world-record deal|
|The Open 2018 diary: Spieth´s got ball skills as Finau proves the scratch golfer|
|Woods: Score doesn´t reflect how well I played|
|Can we go to Paris now? - Thomas in a hurry after conquering Alpe d´Huez|
|Thomas: I could have finished stronger|
|Kisner shines at baked Carnoustie as McIlroy, Rahm and Thomas loom|
|Sarri´s mentality made me a better footballer - Jorginho|
|Tax rates played a role in Ronaldo joining Juventus, says LaLiga president|
|Aggressive McIlroy doing it his way, not the fairway|
|I let him have it - Spinazzola ribs Ronaldo over Juve shirt number|
|Thomas makes it back-to-back wins|
|Ramos may remain for Spain but Luis Enrique promising surprises|
|Cazorla still playing through pain after Villarreal appearance|