Lee step ups at Bolton after Allardyce shock exit

The former Liverpool midfielder has been No2 to Allardyce, who left with the club in the thick of the race for a UEFA Cup place.

Lee said: "I'm very proud and I mentioned at the weekend I've been fortunate to work under some very good people.

"The education I've gained from working with Sam Allardyce has been immense. I have to continue what Sam has started, that's first and foremost, and then re-evaluate it after that.

"It certainly is a healthy position that Bolton are in, we're now contesting for a place in Europe."

Reports suggest Allardyce could take over at either Manchester City or Newcastle this summer. However, he has refused to go into detail about what prompted his decision to go now.

He said: "It was mutually agreed I step down now rather than at the end of the season.

"That will give my successor the ideal opportunity to experience the preparation and build-up of matchday in readiness for next season.

"The decision to leave the club, which has been my spiritual home for over 18 years as player and manager, is one of the hardest I have had to make in my life."

Allardyce arrived at Bolton in 1999 after helping Notts County win the old Third Division title.

They were promoted to the Premiership in 2001 and they were runners-up three years later in the Carling Cup.

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Bolton chairman Phil Gartside, responding to reports that Allardyce opted to leave because of a lack of spending power in the transfer market, said: "There has been speculation that it was for a lack of funds but, if you look at where Bolton Wanderers are in the Premier League, which is reputedly the best league in the world, we've been top 10 for the last four years so there must have been some funds available.

"Last year we signed a world-class striker in Nicolas Anelka and we also brought in Abdoulaye Meite so I want to put on record that funds have been available.

"To move from being a top-four club from a fifth-placed club is not £10million, it's about £100million. We've done well to achieve what we've achieved with limited resources."

Gartside, asked if Allardyce had given him the impression that he had another job lined up, replied: "He said he hasn't."

Moving quickly on Gartside added: "Today is about Sammy Lee being appointed manager. I respect Sam's views of why he has left.

"You couldn't look back on the last eight years without a lot of enjoyment and pride. We've taken Bolton Wanderers to a level we've never been at before.

"Now I'm looking forward to a different era. It is not a complete surprise. When Sam had a great chance of getting the England job a year ago we talked about what we could do then."