PHIL Parkinson is NOT in the running for the Bolton job – as they prepare to appoint Nigel Adkins.

The City boss was understood to be highly regarded by the Lancashire club's hierarchy in their long-running search for a successor to Neil Lennon.

But Bolton co-owner Ken Anderson today made it clear that the calibre of unattached managers available – such as Adkins – meant they would not consider paying compensation for someone already in a position.

As revealed in the Telegraph & Argus yesterday, any club interested in trying to take Parkinson from Valley Parade would have to cough up around £200,000 because of the two remaining years on his contract.

Anderson said: "I have made my feelings quite clear about compensation and we won't be going down that road.

"If it was the only route then I would consider it. Or if we felt that one candidate stood head and shoulders above the rest, it might be the only option.

"But I feel the quality of applicant we have had who were 'unemployed', if you want to put it like that, was of a very high calibre.

"So the question of whether we would or wouldn't pay compensation does not come into it."

Anderson's comments all point to Adkins, who has been out of work since being sacked by Sheffield United on May 12.

He has emerged as the clear favourite in what looks to be a two-horse race with former Bristol City chief Steve Cotterill.

The Bantams had issued a robust statement on Monday morning stressing there had been no contact from Bolton.

There was also no indication that Parkinson would have been interested in talking to a club still embroiled in financial issues.

But the fact he was on Bolton's radar highlights how other clubs view his position since the Valley Parade takeover.

Only four current managers have been in their post longer – Arsene Wenger for nearly two decades at Arsenal, then Football League trio Paul Tisdale, Karl Robinson and Jim Bentley.

But with Edin Rahic and Stefan Rupp newly installed at the City helm, there will be inevitable focus on Parkinson's situation.

Parkinson will sit down for budget talks with Rahic and chief operating officer James Mason when he returns from a family break.

He said: "We've got to make sure that we absolutely maximise the budget that we have got."