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Lennon said: "If you are talking about Manchester United or Liverpool, who are going to be challenging for honours not just in Britain but in Europe, and you look at the prestige that goes with it, I know if I were in Martin's shoes I'd certainly be tempted to do it.
"I think Martin owes it to himself to have a crack at it elsewhere at some stage. Ultimately if it can't happen for him at Celtic, why not? I think he is respected, not just in Britain but in Europe, as one of the best managers around.
"In an ideal world if Martin had the backing (of the board) with money to spend to make a real challenge in Europe, or if Celtic were to play in England, I think there's no doubt he would stay in Glasgow for as long as possible.
"My own take on it though is that he'll eventually think 'okay, enough is enough'. I think he'll say I've run my course here, now it's time for another crack in England or possibly abroad."