Leicester are expected to unveil Ian Holloway as their new manager at a news conference at 7pm on Thursday. The 44-year-old, who has also managed Bristol Rovers and QPR, resigned from his post at Plymouth Argyle on Wednesday.

Holloway will become the Foxes' third manager this season, after Martin Allen, who was sacked in September, and Gary Megson, who left to join Bolton Wandrers in October.

"It's a whole new role for me and it's something I don't think I could turn down.," Holloway said. "I have been a manager for 11 years and I've always been the bridesmaid and never the bride. It's a challenge and I am not one to turn down a challenge."

"To the people at Plymouth I am ever so sorry. I just didn't think my heart was in it once I heard Leicester were interested."

Mandaric, the Leicester chairman, said that he wanted a new man in place before Saturday's game against Bristol City.

He said: "It is most important to get the right guy and if we can get Ian he will be the right guy.

"We need a manager to come in and sort us out and get us on a winning streak and that must happen immediately."

Frank Burrows and Gerry Taggart are currently in temporary charge.