PHIL Parkinson is set to leave City to become the next Bolton manager.

The Lancashire club have called a press conference for tomorrow to unveil their new boss and it is understood that will be Parkinson.

His shock departure will end a 1,746-day stint in the Valley Parade hot-seat – the third longest in club history.

It also comes less than 48 hours after Bolton joint-chairman Ken Anderson had publicly ruled out paying compensation for any appointment.

At that stage it looked to be a straight fight between Nigel Adkins and Steve Cotterill, who are both available.

Earlier this week, City strongly denied there had been any contact over Parkinson but things have clearly moved on dramatically.

The Telegraph & Argus understands a financial package has been agreed between the two clubs.

Parkinson’s exit will come as a bolt out of the blue for fans and new owners Edin Rahic and Stefan Rupp.

But having steered City into the League One play-offs last month, it looks like he may have decided that it is time for a fresh challenge.