Sammy Lee today agreed to part company with Bolton Wanderers by mutual consent, the clubs general manager Frank McParland also left the club.
Bolton Wanderers Chairman Phil Gartside states: "This has been a difficult decision for all parties but we have agreed that the time is right.
"Sammy has played an important role in the Club's recent history. We wish Sammy and Frank well for the future.
"Our efforts will now be to look for a replacement manager and concentrate on the future."
Bolton are current 19th in the Premier League and have only won once under Lee, who was promoted to the position when Sam Allardyce left the club in the summer.
So far the bookmakers have made former Wigan boss Paul Jewell favourite with Real Sociedad and former Fulham manager Chris Coleman second.
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