Bolton have announced Phil Parkinson as the club’s new manager after agreeing a compensation package with Bradford City.
Parkinson, 48, has signed a two-year contract and will be joined at the Macron Stadium by assistant manager Steve Parkin.
Bolton had been searching for a new manager since March after Neil Lennon left the club by mutual consent, five days after Dean Holdsworth’s Sport Shield consortium had completed its takeover.
“Bolton Wanderers Football Club are delighted to announce Phil Parkinson as the club’s new first team manager,” read a statement on the club’s official website.
Parkinson will be joined by his assistant Parkin at the Macron Stadium, while his other coaching staff are expected to follow him across the Pennines.
Parkinson signed a new three-year contract at Valley Parade in the September 2015 and Bradford were believed to be due around £300,000 in compensation for the former Charlton boss although Bolton are believed to have “bargained a much cheaper deal with City”, according to the Telegraph & Argus.
Bradford, who are under new ownership, made a statement earlier this week stating that there had been no approach for Parkinson, while Bolton claimed they would not be prepared to pay compensation for the Bradford man.
Parkinson, who was on holiday, quickly made a U-turn though and is believed to have told new Bradford co-owner Edin Rahic that he wanted to leave and after returning from holiday early, Parkinson was on Friday morning unveiled at Bolton.