The former Bhoy was sacked by Wigan Athletic toward the end of last season.
Celtic have had an excellent season under Ronny Deila, even if it did not start that way. The Bhoys struggled for early form after the Stromsgodset boss took over from Neil Lennon. In fact, a small pocket of fans even decided then and there that they would like to see the Norwegian out.
Of course that did not happen. Deila has gone on to win around fans and they ended up doing the double this season, although fell short of a memorable triple after a controversial defeat to Inverness in the Scottish Cup semi-final.
But if they were to lose Deila there would be nobody seemingly more willing to take over at Celtic than Malky Mackay. The former Scotland defender, who spent five years at Celtic as a player, told the BBC yesterday:
"The Celtic job, I don't think there is anyone that would look at it and say that they wouldn't want it.
"Obviously you are very respectful to who is in a job, but it's a huge, worldwide job.
"I've been there inside the fabric of that football club during a very colourful period in its history.
"It's an institution. You only need to look at the fan base worldwide and the potential, in terms of what a couple of the managers recently have done in Europe, to see how good a job that is."
Of course his dream to one day manage Celtic may not be shared by fans of the club.
Mackay has courted controversy in recent times. After he was sacked by Cardiff City offensive texts he sent became public. He was still hired by Wigan Athletic, where he flopped and is now currently out of work after the Lactics fell to League One.
Mackay may indeed go on to manage Celtic one day. But the fact is he has a lot of rebuilding to do first.