PHIL Parkinson has been unveiled as the new manager of Bolton Wanderers at a press conference.

The club confirmed this morning that Parkinson and his assistant Steve Parkin have signed a two-year contract.

In a remarkable late twist yesterday, a deal was been agreed with Bradford City to bring the Chorley-born 48-year-old to the Macron Stadium ahead of long-time front-runners Steve Cotterill and Nigel Adkins.

Ken Anderson had claimed publicly Wanderers would not be paying compensation but The Bolton News understands a financial agreement has been reached between the two clubs in the last couple of days.

Wanderers fans had waited more than 12 weeks for news of Neil Lennon’s successor but their agony will finally be over when the former Reading and Bury midfielder is unveiled to the press at the Macron Stadium.

Parkinson was the fifth longest-serving manager in the Football League and was moving towards his fifth season at Valley Parade.

He led Bradford to the League Cup final in 2013 and his side were beaten in the play-offs this season by Millwall.

He has also experienced promotion with Colchester United and guided Charlton Athletic to a fourth-place finish in League One in 2010.