Burnley admit defeat and look to agree fee for boss Coyle

Coyle quickly emerged as Bolton's top target after the sacking of Gary Megson last week and was given permission to speak to Wanderers on Monday.

Burnley subsequently met with the 43-year-old that evening in an attempt to persuade him to stay but it seems they have been unsuccessful.

The Clarets have admitted they have now opened talks with Bolton over a possible compensation deal.

The east Lancashire outfit are thought to want around 3m for the man who guided them into the Barclays Premier League.

A Burnley statement read: "Owen Coyle has reaffirmed his desire to leave Burnley Football Club and join Bolton Wanderers Football Club.

"Burnley Football Club will now enter discussions with Bolton Wanderers Football Club, due to the fact that compensation between the two parties has yet to be agreed.

"There will be no further comment at this time."

Bolton were still to comment on the situation last night.

Coyle took over at Burnley in November 2007 after cutting his managerial teeth north of the border with Falkirk and St Johnstone.

The former Republic of Ireland international was a popular player at Burnden Park in the mid-1990s but was overlooked by the Trotters when Megson was appointed to succeed Sammy Lee in October 2007.

He quickly established a good reputation in England as his Burnley side impressed in cup competitions and then won promotion to the top flight – after a 33-year absence – via the play-offs.

Bolton are expected to confirm his appointment at the Reebok Stadium once compensation can be agreed.

Attention will then turn to the identity of Coyle's successor at Turf Moor.

Former Peterborough boss Darren Ferguson, who has been regarded as one of the favourites to take over at Burnley's managerless Championship neighbours Preston, would come into the reckoning.

Manchester United assistant manager Mike Phelan, a former Burnley player, has also been linked along with the out-of-work Alan Curbishley, Gareth Southgate and Steve Coppell.