Holloway signs three-and-a-half year deal to become new Leicester manager

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Holloway, 44, tendered his resignation at Home Park yesterday and has been in talks with Foxes chairman Milan Mandaric at the Walkers Stadium today and has signed a three-and-a-half year deal.

Ian Holloway: in talks with Leicester

The former Bristol Rovers and QPR manager replaces Gary Megson at the Coca-Cola Championship club after he left for Bolton last month just six weeks after being appointed.

Holloway is the fifth manager to work under Mandaric since he took over the club earlier this year, following Rob Kelly, Nigel Worthington, Martin Allen and Megson.

He leaves the Pilgrims in seventh place in the Championship table to join the Foxes, who are currently down in 17th.

Coach Gerry Taggart and goalkeeping coach Mike Stowell will continue their roles at the club.

Chairman Milan Mandaric said in a statement: "I am delighted to be able to unveil Ian Holloway as our new manager.

"It is fair to say that from the start of this process he has been at the forefront of our thoughts and to have finally captured him gives me great joy.

"It has been a long and tough season to date for everyone connected with this football club but I am confident that I have got the man to take us forward.

"He has honesty, enthusiasm and drive. He plays a good style of football and I believe he is a manager that my supporters will enjoy and respect."