Blackpool coach David Dunn installed as early favourite to replace Ian Evatt at Barrow

It comes after Pool legend Ian Evatt departed Holker Street to take charge of Bolton Wanderers.

Following days of negotiations Bolton finally agreed to pay the compensation fee, which is thought to be £225,000.

The deal also involves the 38-year-old’s assistant manager Peter Atherton joining him, the pair signings deals until the end of the 2022/23 season.

The former Seasider replaces Keith Hill, who left the club after failing to keep the Trotters in League One.

Evatt’s move to the University of Bolton Stadium comes after he guided Barrow to the National League title last season.

In his second season in charge at Holker Street, the former defender defied the odds to seal Barrow’s return to the Football League after a 48-year absence.

Evatt’s achievement was all the more impressive given the Bluebirds’ budget was amongst the lowest in the National League.

Barrow have since been linked with a swift appointment, the club's chairman Paul Hornby confirming to local radio the Bluebirds have already got a number one target in mind.

While Pool's first-team coach Dunn is currently favourite for the vacancy, former Barnsley boss Paul Heckingbottom, Workington's Danny Grainger and AFC Fylde manager Jim Bentley are also high up in the betting.

Dunn, who arrived at Bloomfield Road in January, took charge of the Seasiders on a caretaker basis in February following the sacking of Simon Grayson.

He oversaw four games, helping Pool seal two wins and a draw.

During that short stint, the former Blackburn Rovers and England midfielder consistently ruled himself out of the running to take the job on a permanent basis.

“The owner and (chief executive) Ben Mansford have just told me to take the reins and just to be positive and get as many points as I can - and that’s what I’m going to do," he said at the time.

“I’ve no intention to become the manager.

“I’m enjoying my time back in football, it’s six weeks now being back on the grass and I want to coach.

“But in terms of being a manager, no I don’t want that.”