Bolton Wanderers have appointed Gary Megson as their new manager on a two-and-a-half year contract. The former Leicester City manager replaces Sammy Lee, who left Bolton last week after a poor start to the season.

Megson will take charge for Sunday's match against Aston Villa. He completed contract negotiations with Phil Gartside, the Bolton chairman, quickly after Leicester gave him permission on Tuesday evening to speak to the Premier League side.

Gartside said: “We have been able to interview a number of quality candidates and have taken into consideration all the factors which we consider applicable for the post and, after due consideration, decided to offer the post to Gary Megson.

“We feel Gary is the right man to take Bolton Wanderers forward. I have paid particular attention to his career and he has demonstrated to me that he is prepared to roll his sleeves up and has the right temperament for a battle, which this season is undoubtedly going to be.

“We have made decisive decisions over the past few weeks and this is one of them. It is not about me, Gary Megson or any other individual. It is all about Bolton Wanderers surviving in the Premier League.

“We have to be fully focused on the task ahead to make sure we achieve immediate success. I have spoken to the staff and the players and we are all committed to get behind Gary and turn our fortunes around.”

Archie Knox, the Bolton caretaker manager, will remain in charge for this evening's Uefa Cup tie against SC Braga at the Reebok Stadium.

Meanwhile, Milan Manadaric, the Leicester chairman, is hoping to appoint “another Harry Redknapp" as a replacement for Megson. As the Portsmouth chairman, Mandaric enjoyed a successful partnership with Redknapp at Fratton Park.

Mandaric was bitterly disappointed by Megson's decision to quit after agreeing, but not signing, a three-year contract six weeks ago when he replaced Martin Allen.

The chairman said: “I am looking for another Harry Redknapp to stay with me and get the job done. I want a stable guy with some loyalty, who signs a contract and doesn’t leave in six weeks.”

Iain Dowie, the Coventry City manager, has been linked with the role following the breakdown of a takeover at the Ricoh Arena and the transfer embargo placed on the club this week. Mandaric, however, plans to speak to potential candidates today.

“I don’t want to talk about managers who are employed, it’s not fair to their clubs,” he said. “We’ll see in the next few days as there is a list of four or five on there and I am starting the process of talking to them this afternoon.”