Owen Coyle is set to receive a cool £1 million bonus for leading Burnley into the Premiership.

The Times says sources close to Coyle confirmed last night that the highly rated manager will stay at Turf Moor. That will disappoint Celtic, who had put the Coyle at the top of their list of potential recruits to succeed Gordon Strachan, who quit on Sunday after four years at the Glasgow club.

Coyle is due to receive a £1 million bonus for guiding Burnley to promotion from the Coca-Cola Championship into the Barclays Premier League, where the modest Lancashire club will earn at least £60 million in revenue. Coyle feels that he has to show loyalty to Burnley for taking a chance on him 18 months ago when he was at St Johnstone, but is also fiercely ambitious and wants to experience management in the world's most sought-after league after defeating Sheffield United on Monday in the play-off final at Wembley.