Owen Coyle has no complaints with his sacking at Bolton and says whoever replaces him at the Reebok Stadium is in a fortunate position.
The Scot was axed as Bolton boss on Tuesday morning with Wanderers languishing in 18th spot in the Championship table after winning just three of their opening 10 games.
Coyle, who took charge of Bolton in January 2010 after leaving Burnley, accepts the club's decision to look for a new manager and has wished them well for the future.
"Of course it is disappointing, it is probably an understatement to say that," Coyle told Sky Sports News.
"But we understand how football works, we have been in it long enough.
"We certainly know the highs, we certainly know the lows and no doubt it is a hugely disappointing day for everybody.
"We worked very hard I've got to say, for long, long hours at the football club to put a plan in place that well serve the club well for years to come - and it will.
"I've got to say whoever comes in is going to be a very, very lucky person to come into a wonderful football club with a structure in place that is going to benefit the club in years to come.
"Everything in terms of performances have been of a high standard, we accept we have not won as many games as we wanted to do and we understand how football works truly, but what I do know is it's truly a wonderful football club for anybody to come into, it's going to be a marvellous job and I have no doubts the club will go from strength to strength."
Coyle admitted it was hard to take losing his job, but he praised the club for the way they have handled the whole situation.
"The biggest single thing is anybody that knows us knows how passionate we are about football, how passionate we are about Bolton Wanderers and ultimately obviously that has been taken away from us today," added Coyle.
"The club to be fair when the decision was going to be made they had the grace to say we could dress this up however we wanted. Whether saying that I was leaving or mutual consent, but you know me - I've always called it straight.
"The bottom line is they decided there was going to be a change so let's tell it as it is and that's what happened.
"I wish them nothing but the best. Phil Gartside being my chairman is somebody I hold very dear and that will never change.
"Eddie Davies, the owner, I had a fantastic relationship with. Whether because we lost on Saturday prompted the decision I never really got to the bottom of that.
"The bottom line was that was a decision they decided was going to be made and it's been made and we have all got to move on and my thoughts will always be looking for Bolton Wanderers' results - making sure they are getting wins to move them up to where they want to be.
"It is a new chapter opening, as one door closes another one opens.
"I was ready as my staff were to continue fighting and scrapping for everything we were building at Bolton Wanderers and it has been decided that's not the case.
"So we wish them well, we go as we always do with our heads held high and move on."
Who should be Bolton's new manager?