Celtic boss Martin O'Neill is set to receive a significant transfer war chest to strengthen the team ahead of the new season. Dermot Desmond urged to loosen the purse strings to allow O'Neill to bring in top players. The Northern Irishman will need to splash the cash to get the team to the Champions League. Alan McInally is convinced O'Neill has been told he'll be given a bumper war chest to fund his Celtic vision. The Parkhead club are set to confirm the Northern Irishman as permanent boss after agreeing a new one-year deal with an option of another 12 months. Former Hoops ace McInally is thrilled O'Neill will remain at the helm – but he's urged supremo Dermot Desmond to loosen the purse strings to allow the 74-year-old the best chance of continual success. Rambo said: “I can only assume Martin will be given a decent bag of money to bring in some players. “He should get it. I don’t think Dermot Desmond can give him 50 quid and then say, ‘go and win the league!’ “Speaking to Celtic fans, there was a frustration about, maybe not the lack of investment as such, but the lack of investment at the right times or the right kind of spending. “I don’t know if there was an attitude, ‘we’ve got enough to win the league’. “Okay, they did win it eventually. But we could see that is was by no means a certainty and it could have gone either way. “I would have thought Martin will have asked for some guarantees because he’ll want to freshen up this squad. “There will be players leaving and he’ll want to bring in others who are really competitive. “He’ll want to make sure he’s not just challenging for the league – but also in Europe. “It doesn’t look like Hearts will be going anywhere and we don’t know how deep the Rangers pockets are. “You have to think those two will come strong again and Celtic will need to be ready. “The Champions League was a massive disappointment last year and that’s something Martin will want to address, because that is the stage Celtic have to be on. “It will be interesting to see where he wants to strengthen and what he’s able to bring in.” O’Neill has already been working on a summer wish but he could also be set to use several key men, with midfielder Reo Hatate looking for an exit, along with fellow Japan star Daizen Maeda. The Hoops boss also has decisions to make over several short term signings with Alex Oxlade-Chamberlain and Kelechi Iheanacho waiting for Celts to hit the button on extensions to their deals. Former Hoops hitman McInally has backed Iheanacho to stay – as he’s convinced O’Neill can get the best out of the enigmatic frontman. He said: “I would keep him. If he can perform the way he did in the last six games over the course of the season then he’s obviously worth keeping. “That’s the big question though. It’s about keeping him fit. “I don’t know if he’s enjoying Glasgow too much – maybe Martin should put a tag on him! “Joking aside, it would be interesting to see how he responds to a full pre-season. “He clearly enjoys playing for Celtic. You can see that. And why wouldn’t he, playing in front of 60,000 every other week and competing for trophies? “It’s up to him to have the discipline and the attitude to play week in, week out. “You could see how Martin managed to get the best out of Iheanacho in the last part of the season so he could do so again. “The thing is, if he does go, he would need to be replaced. You look at his quality and his ability in front of goal, that doesn’t come easily. “Some players need a kick and others need a