Bolton should have a clearer idea on Tuesday night as to whether their preferred managerial choice Owen Coyle will be making the short trip to the Reebok Stadium from Burnley.
The Clarets boss met his chairman Barry Kilby on Monday night to explain his plans after being given permission to talk to their Barclays Premier League rivals, but - according to a Burnley statement - both parties opted to take 24 hours to think things over.
The statement read: "Senior Burnley officials have, on Monday evening, held detailed talks with first-team manager Owen Coyle over his future at Turf Moor. As a result of these talks over Coyle's future with his current employers, both parties have decided to take a further 24 hours to digest the information shared before making any further announcement."
The statement continued: "There will be no further comment during this time from Burnley or Owen Coyle."
Coyle is thought to be keen to return to the club where he enjoyed two-and-a-half seasons as a player in the 1990s, but apparently Bolton will have to come up with more than £3million in compensation.
It is understood a clause was inserted into his contract when he signed a 12-month extension to his existing three-year deal in the summer.
Reports on Monday suggested a financial agreement had already been reached between the clubs but they remain unconfirmed.
Bolton chairman Phil Gartside shortlisted Coyle for the manager's job before he appointed Megson in October 2007 and subsequently recommended him to Burnley, where the Scot took over the following month.
When Megson was sacked last week Coyle was installed as Gartside's top target and it appears the ambitious 43-year-old would welcome a move.
Having steered Burnley to promotion to the top flight for the first time in 33 years Coyle has had to work on a shoestring budget.
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