Blackpool Football Club can confirm that Ian Holloway has agreed to become the new manager of Crystal Palace.
The club gave Holloway permission to speak to The Eagles on Friday evening and he has since informed the chairman of his wish to take the position.
It is understood that Keith Millen will also be joining him at Selhurst Park.
Chairman Karl Oyston told the official website: "We understand the reasons behind Ian's decision to leave and he departs with our best wishes. I'd like to place on record my thanks to Ian for all he has achieved at Bloomfield Road, he's played a massive part in our recent success and will go down in history as one of our most successful managers.
"The process of finding a replacement for Ian has now started and we'd like to make an appointment as soon as possible."
Steve Thompson will take charge of first-team affairs until further notice, starting with this afternoon's game against Derby County.