The Championship is a notoriously difficult division to gain promotion from and many clubs with illustrious histories currently reside there.
Despite that, it was felt by many, including the bookmakers - who made the club pre-season favourites to win the league - that Bolton would be in with a good chance of bouncing straight back into the top flight.
Former Wolves manager Mick McCarthy is deemed worthy of early favouritism with Bet365, priced as he is at 6/4 (2.50). The 53-year-old left the west Midlands earlier this year and with his experience of the Championship he looks well placed to step into such a role.
McCarthy won promotion to the Premier League with both Sunderland and Wolves and was strongly linked with the vacant position at Nottingham Forest earlier this season.
Despite his short price, questions still remain over whether McCarthy would take a Championship role rather than waiting for a position in the Premier League which could deter those thinking of backing the Irishman for the role.
|Next Permanent Bolton Manager
|Odds courtesy of Bet365
|Paolo Di Canio||14/1|
|Ole Gunnar Solskjaer||16/1|
Curbishley has experience of promotion and keeping a side in the Premier League, as he did with Charlton before moving on by mutual consent in 2006.
However, his relatively short spell at West Ham United was a much more tempestuous affair and the 54-year-old has been away from management for 4 years, something which could count against him compared to other candidates. He’s a 12/1 (13.0) shot to succeed Coyle on a permanent basis.
Ole Gunnar Solksjaer, who was close to joining Aston Villa this summer is a 16/1 (17.0) outside chance to take over but his refusal to take a Premier League job casts doubt over his credibility as a serious candidate.
Sammy Lee, who has been placed in interim charge following Coyle’s dismissal, is 10/1 (11.0) to take on the role on a permanent basis.
Lee already has experience as Bolton manager taking over from Sam Allardyce in 2007, albeit he was only in charge for 11 games before leaving the club.
His work with the club’s academy in recent months is a positive but the timing of the decision coinciding with an International break suggests the club’s owners are seeking a replacement from outside the current set up.
There is a familiar look about the outsiders in the market with Harry Redknapp (33/1), Phil Brown (20/1) and Roy Keane at 12/1 (13.0).
It seems unlikely that Redknapp would consider a move to the Championship following his role at Tottenham and the likelihood of Premier League vacancies becoming available in the near future as the pressure begins to tell on those who have made poor starts to the season.
Phil Brown is rated as a 20/1 (21.0) chance but following his failure at Preston, he may find his stock has fallen considerably when it comes to applying for positions such as this one.
Managerial markets are notoriously volatile and prices can often change very quickly. Often an outsider can quickly become odds-on favourite if it emerges the club in question is making an approach for a particular candidate.
With that in mind, an outsider worthy of small stakes support could be Paolo Di Canio.
The charasmatic Italian has had plaudits heaped upon him for his work at Swindon Town after winning promotion as League Two Champions at the first time of asking and continuing the good work in League One.
He's available at 14/1 (15.0) with Bet365 and should the opportunity of a move to the Championship be offered to him, it could really test the 44-year-old’s resolve to remain with the Robins.
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Jim Knight is Betting Editor at Goal.com and has been tipping football games since he was old enough to place a bet. He is a Leicester City fan, writer and member of the We Are Going Up Podcast
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