Bolton want Megson as new manager

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Leicester manager Gary Megson is the front-runner to become the new Bolton manager.

Graeme Souness was interviewed for the post last week but Bolton chairman Phil Gartside has confirmed the Scot is not interested in succeeding Sammy Lee.

Now Gartside looks set to turn to Megson and he is believed to be prepared to pay £300,000 to get him.

Megson dodged questions about the move, saying he wanted to talk about his team's home defeat to Sheffield United.

He said: "I am the manager of Leicester and I want to talk about tonight's game.

"After that I am going to see the chairman to see where we are going."

Bolton are understood to want to make an appointment before Sunday's Premier League match against Aston Villa.

Foxes chairman Milan Mandaric has already warned Bolton off Megson but the 48-year-old has yet to sign a contract at Leicester since taking the reins last month.

And Bolton, who are bottom of the Premier League, are willing to pay compensation to prise him away from the Walkers Stadium.

They have been searching for a new boss since sacking Lee on 17 October and placing Archie Knox in temporary charge.

Gartside revealed on Tuesday that former Rangers, Liverpool, Blackburn and Newcastle manager Souness would not be the man to take over at the Reebok Stadium.

He said: "Graeme Souness was a candidate on our target list and he has now decided to remove himself from the interview process.

"Having interviewed him last week, I know he would have been an exceptional candidate for the role.

"However, I respect Graeme's decision to pull out of the process and I wish him well for the future."

Gartside has also been thwarted in his efforts to assess two other candidates, having been refused permission to talk to Birmingham boss Steve Bruce and Real Sociedad coach Chris Coleman.

Former Fulham boss Coleman joined the Spanish second division side in the summer and they are keen to keep hold of him.

"He has a three-year contract with us and he is the coach who we are placing our confidence in for that period," Sociedad sporting director Salva Iriarte said.

"He's happy here, committed to the project and keen to carry on. I've no doubt that he will be our coach for the next three years."

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*Bolton get Megson go-ahead*

Leicester manager Gary Megson has been granted permission to speak to Bolton by chairman Milan Mandaric.

Megson emerged as Phil Gartside's first choice to succeed Sammy Lee last week and The Foxes had previously rejected two approaches for their manager by the Trotters chairman.

But following talks on Tuesday night between Megson and Mandaric, the former West Brom and Nottingham Forest boss will be allowed to talk to Bolton.

Megson informed Mandaric that he wanted to become Bolton manager after Leicester's 1-0 defeat to Sheffield United.

Gartside has since reiterated his desire to appoint the 48-year-old and a compensation package has now been agreed between the two clubs.

Foxes hunt begins

Meanwhile, Leicester have announced that assistant manager Frank Burrows and Gerry Taggart have been placed in caretaker charge at The Walkers Stadium.

Mandaric added: "The search for a new manager begins in earnest.

"In the meantime assistant manager Frank Burrows and Gerry Taggart will assume temporary control of first-team affairs until we are in a position to announce a significant appointment."