Bolton have announced Phil Parkinson as the club’s new manager after agreeing a compensation package with Bradford.
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, who had spent just short of five years in charge of Bradford, will be unveiled at a press conference at Macron Stadium at noon on Friday.
“Parkinson joins Bolton from fellow Sky Bet League One club Bradford City after the two clubs agreed a compensation package,” the club statement added.
“He has signed a two-year contract with the club and will be joined by assistant manager Steve Parkin in making the move to Macron Stadium.”
Parkinson’s decision to leave Bradford - he was the Football League’s sixth longest-serving manager - has come as a shock to the West Yorkshire club’s fans and new German owners Edin Rahic and Stefan Rupp, who completed their takeover of the club on May 24.
Steve Cotterill and Nigel Adkins, both without clubs, were reported to have been in a two-horse race for the job and earlier this week Bolton’s joint-chairman Ken Anderson announced Wanderers had ruled out paying compensation for Lennon’s replacement.
Parkinson, Bradford’s third longest-serving manager, guided them to the League One play-offs this season but they lost out 4-2 on aggregate to Millwall in the semi-finals.
He was appointed permanent successor to Peter Jackson at Valley Parade in August 2011 and led the club to promotion from League Two via the play-offs in 2013, three months after steering them to the Capital One Cup final when they became the first club from English football’s bottom tier to reach a major final at Wembley.
Parkinson also masterminded Bradford’s 4-2 FA Cup fourth-round upset of Chelsea at Stamford Bridge last year when his side went on to reach the quarter-finals.
Bolton, who placed academy boss Jimmy Phillips in temporary charge following Lennon’s departure, were relegated to League One this season after finishing bottom of the Championship.