Sam Allardyce's long and successful association with Bolton Wanderers ended in confusion and shock last night, when he announced his resignation as manager in what he described as "one of the hardest decisions in my life".

After almost eight years in charge Allardyce has decided to look for another club after a series of frank and open discussions with the Bolton chairman, Phil Gartside, as well as "careful consideration and dialogue with my close family and senior officials within the club".

His assistant, Sammy Lee, is set to take over as caretaker manager today and looks likely to get the job full-time.

With Stuart Pearce almost certain to be sacked at the end of the season, Manchester City is a highly possible destination for Allardyce, who was shortlisted for the role of England head coach to succeed Sven-Goran Eriksson last summer.

Bolton will hold a press conference at 11am today at which they will attempt to answer the numerous questions raised by Allardyce's departure and, specifically, the speed with which it has happened.

When Bolton drew 2-2 with Chelsea on Saturday there was no sense that it would be Allardyce's last match.

There is a feeling at Bolton that Allardyce decided he had taken the club as far as he could.

But a significant unanswered question is why he has gone now rather than at the end of the season, particularly when Bolton, currently fifth, are trying to secure Uefa Cup qualification.

Meanwhile, Danny Fiszman yesterday warned Stan Kroenke to forget about mounting a hostile takeover bid for Arsenal.

Fiszman is the Gunners' largest single shareholder, speaking for more than 24 per cent of the club.

Kroenke has been stake building in recent weeks and has amassed more than 12 per cent of the club's equity but Fiszman declared the board would fight off the American billionaire's expected approach.

Guardian Service