But the ground’s pivotal role in the Commonwealth Games and attempts to transform the east end of Glasgow will see Celtic’s long-term vision for the area around its stadium revealed later this week.

The club has submitted its masterplan for “The Celtic Triangle” and it is expected to secure approval on Friday.

The ambitious plans include the creation of bars and restaurants around Celtic Park, a new club museum, walkways linking it with other 2014 venues, a plaza and the potential for a new hotel, casino or shops. It even has proposals for housing.

The club insists the project will depend on its economic viability, especially in the context of the current climate, but the deadline of summer 2014 will put pressure on Celtic to deliver some of the vision across the next 36 months.

With Celtic Park hosting the opening ceremony of the 2014 Commonwealth Games, the local authority is concerned that the area around the stadium “does not provide an attractive setting” and has said “the current situation is not acceptable with regard to the council’s ambitions to host a world-class event for the 2014 games”.

The plans are also in the context of a new four-lane carriageway, which will cut through the east end linking the M74 and M8 via London Road. The East End Regeneration Route (EERR) will cut through land used as a coach park, leading to an agreement struck between Celtic and Glasgow City Council over matchday access to the car park of the new National Indoor Sports Arena.

The vision would initially see the refurbishment and extension of the Victorian London Road School to incorporate a restaurant, cafe and bar, as well as a new club museum, landscaping the immediate area around Celtic Park, and the creation of a plaza space.

Phase two would see “a new landmark building” on the site where the EERR meets London Road “creating an iconic gateway to the stadium area”, with early ideas including a hotel, more restaurants and bars, a casino and shops. A council report detailing the masterplan says: “It is recognised that the design of the new buildings at this location should be of the highest standard to reflect the importance of this corner of the triangle as a key gateway to the site, particularly on the approach from the EERR.”

A further phase, expected to be completed by 2014 and considered by the city council “to be the most critical element of the public realm strategy”, would see walkways linking the stadium to the EERR and the Indoor Arena.

The masterplan claims there is potential for a residential development to the west of the stadium and at the corner of Springfield Road and London Road, as well as “further small-scale commercial or light industrial development” to the north. The report, which is calling for council approval in principle this Friday, states: “It is recognised that market conditions may influence future land use proposals with regard to these more long-term ambitions for the site and these aspects of the masterplan will develop in discussion between the City Council and Celtic FC.”

Strathclyde Police have been consulted on crowd control issues and Celtic has held discussions with the National Counter Terrorism Security Office and the Hostile Vehicle Mitigation Course over safety matters.

The police are said to have broadly welcomed the proposal as it will improve crowd management on matchdays, while Architecture and Design Scotland has said the masterplan would address the poor setting of the stadium. A Celtic spokesman said: “Clearly, this proposal is very preliminary and has a long long way to go. We are working in total partnership with Glasgow City Council and Clyde Gateway in a sensible and pragmatic manner but ultimately, the project will depend on a range of factors, including of course, economic viability.” Councillor George Ryan, executive member for business and the economy, said: “We are interested in the details of this masterplan, which could contribute to the regeneration of the city’s east end, and we are keen to see the first phases of the project delivered before the Glasgow 2014 Commonwealth Games.”

Concern at lack of progress in rival’s plan to develop Ibrox

Around two years ago, city rivals Rangers revealed their own Ibrox masterplan.

As part of Sir David Murray’s vision, Ibrox Stadium would have its capacity increased to 70,000 and a concert arena would be built along with a hotel, shops and an underground car park. The value attached to the scheme was £350 million.

The plans were very much seen as Rangers’ attempt to continue with the momentum they had when proposing a supercasino for the area, as well as a response to the planned improvements around Celtic Park as a result of the Commonwealth Games going to the east end of Glasgow.

Ibrox Stadium will also host the Rugby 7s tournament in 2014, serving as an incentive for improvement in the area.

Last October Glasgow City Councillors agreed unanimously to give Rangers the option to buy any council-owned land needed for the scheme, which it believed had the potential to regenerate swathes of Govan.

But even then, Sir David signalled there would be question marks over the timescale, claiming that there had already been delays “outwith our control”.

However, the city council, as part of its backing for the project, had demanded detailed timescales.

But, against the backdrop of the financial crisis currently engulfing the Ibrox club, The Herald understands there has been concern that the plans are floundering. It is understood that, after a long silence between the council and Rangers chiefs, talks on the project have only recommenced in recent weeks “to appraise options”.

Talks stalled over changes to the proposals and the value of the council’s land, with sources claiming even the most ardent supporters of the plan within Glasgow City Chambers are expressing concern at the rate of progress.

A council spokesman said: “Recent talks between the council and Rangers should see an options appraisal commence in the very near future.”

Rangers declined to comment.