The former Aston Villa manager has been heavily linked with the Hoops after announcing he will leave Blackburn Rovers this summer.
Former Celtic and Aston Villa midfielder Stiliyan Petrov has suggested that Paul Lambert will feel he is ready to take the reigns at Parkhead as long as he is given money to spend this summer, as quoted by the Herald.
Lambert has immediately been installed as a frontrunner to take over from Ronny Deila this summer after announcing earlier this week that he will be stepping down from his post as Blackburn Rovers boss this summer.
The former Bhoys captain has not enjoyed too much success in recent years of his managerial career, although he insisted that guiding beleaguered Villa to Premier League safety two years in a row should be considered a big achievement.
However, he left Rovers after guiding them to just five wins from his final 23 matches in charge, and Celtic fans were vociferous in their view that their former star is not the right man to lead the club forward.
Despite the fan resistance, Petrov, who did not play under Lambert at Villa but lined up alongside him for the best part of six years as a player at Scottish giants, believes the 46-year-old would be ready to take on the task at Parkhead, as long as he wad given sufficient funds in the transfer market.
The Bulgarian said, as quoted by the Herald: "I’d think he’s ready. Obviously he had a tough spell at Villa with financial restrictions and having to cut the wage bill. Then he moved to Blackburn but I think Celtic would be completely different for him. When you become Celtic manager and demand better players I think it’s easier to work.
"Paul will fancy it but he will want money to spend. Any manager would want that to be successful. It’s a job that you can’t turn down because it’s a privilege to be a manager of a club of this stature. So I’m sure there will be a lot of candidates but I think it has to be someone who knows the club and can bring back the fans back again.
"Celtic will always be attractive, especially with Rangers coming back now and making the league competitive again. But to have success you need to spend. That’s the same everywhere you go around the world. You need to spend more than anyone else if you want to bring quality and be in the Champions League."
Whether it is Lambert or somebody else, whoever takes the reigns at Celtic next season will be facing arguably their most important season in recent years as they look to establish themselves as the dominant force in Scotland once again despite the return of Old Firm rivals and Scottish Cup semi-final conquerors Rangers.