Bolton Wanderers manager Phil Parkinson has left the crisis club along with assistant Steve Parkin after over three years with the Trotters.

The 51-year-old took over when the club were in League One and he managed to take them back to the Championship even though they had to operate under a transfer embargo.

That was just a sign of things to come, with Bolton unable to spend any money on players as they managed to stay up in the second-tier following a thrilling final day win against Nottingham Forest. However, Parkinson couldn't prevent relegation last season in a campaign that was overshadowed by more financial issues and player strikes.

And the Bolton News have now revealed that the ex-Bradford City chief, and Parkin, have informed the club that they will be moving on.

The report states that the pair decided to leave after Laurence Bassini gained an injunction to stop a potential takeover with Football Ventures earlier this month.

Bolton are currently second from bottom in League One on -11 points after picking up one point from their opening three games, where they have been forced to play plenty of younger players.

The Verdict

This is a real blow for Bolton as Parkinson is a top quality manager at this level and he has handled himself with real class given the awful situation the club are in.

But, most will completely understand his decision and in a way it is a surprise to see how long he lasted.

Coach Jimmy Phillips is set to take charge now and the support will be hoping the new owners come in and bring in their own man as they look to get out of the mess they are in right now.

Thoughts? Let us know in the comments below.