Micky Adams has left Brighton and Hove Albion to join Leicester City as the assistant manager under Dave Bassett.
The new management duo were officially unveiled by Leicester City at 4:30 this afternoon as Adams the pair renewd their partnership from Nottingham Forest four years ago.
Although Brighton are currently in 4th place in the Nationwide League Second Division, the opportunity proved too much for Adams to resist after missing out on other Premiership jobs that he has revealed he had been interested in.
He said: "In a way this is a devastating blow because I'm very happy at Brighton. But I want to work in the Premiership.
"I was disappointed I didn't get interviews for a couple of jobs. Perhaps the only way I can get into a Premiership club is doing it this way.
"I believe, having spoken with Leicester and [Brighton chairman] Dick Knight that a compensation figure has been agreed for my services."
The Brighton chairman said that he had been unable to oppose his manager taking such a large step up and he had accepted Adams' decision to step down from the Seagulls' post.
Knight said on Wednesday: "Leicester have done everything by the book, and I have agreed the terms of a compensation package for the release of Micky from his Brighton contract."
Adams had taken Brighton from the lower reaches of the Third Division to the top end of Division Two in just 20 months and was named as the LMA's Third Division Manager of the Year in May 2001 having led the Seagulls to the Championship, as well as winning last month's Division Two Manager of the Month award.