BOLTON would have to fork out around £300,000 to try to prise Phil Parkinson and Steve Parkin away from City.

The Bantams insist it remains business as usual at Valley Parade after denying the relegated Lancashire side had been in touch about the management duo.

Both are only a season into their latest three-year deals, so an approach from any club would have to meet a significant level of compensation – thought to be £200,000-plus in Parkinson's case and half that for assistant Parkin.

That could present a sizeable stumbling block for new Bolton owners Dean Holdsworth and Ken Anderson as they prepare for the club's first appearance in the third tier for 23 years.

They are still carrying a heavy wage bill from the Championship and are attempting to ship out some of the highest earners.

Parkinson is understood to be highly-rated by the Bolton hierarchy as they look to fill the vacancy left by Neil Lennon's exit 12 weeks ago.

The City chief is currently on holiday but chief operating officer James Mason made it clear that nobody from Bolton had made contact with the club.

Mason, who spoke with Parkinson yesterday, said: "We don't know where the rumours came from but can only suggest it's that time of year when the names of successful managers crop up for vacancies."

It is also unclear whether Parkinson would entertain a sideways move to another club in the same division, especially one bogged down by financial turmoil since dropping out of the Premier League in 2012.

City joint-owner Edin Rahic is due back in the office from Germany today and Parkinson is set to sit down with him to firm up the budget on his own return.

Ben Williams and Nathan Clarke are expected to be the first of the out-of-contract players to sign new deals.

Parkinson was backed down to favourite with two bookmakers for the Bolton job and continues to ride high in the odds despite City's denial.

Bolton may not be the only club monitoring the manager's situation since the Valley Parade takeover and that might strengthen his hand for the money conversations with Rahic about the squad.

Nigel Adkins and Steve Cotterill are both well fancied for the vacancy at the Macron Stadium. Unlike Parkinson, neither would involve any compensation, being unattached to a club.

Chris Powell was also thought to be on their shortlist before becoming number two at Derby.

Bolton were strongly linked with Phil Brown of Southend at the end of last season and former Northampton boss Chris Wilder held talks before turning them down and joining Sheffield United.