ROBBIE NEILSON will be formally appointed Milton Keynes Dons manager today after the League One club agreed a compensation package with Hearts for their head coach and assistant Stevie Crawford.

The clubs spent much of Thursday thrashing out terms and ultimately agreed a fee for Neilson and Crawford, who will travel to England to complete the formalities of the switch this morning.

The duo are likely to be in the stand at Valley Parade for Saturday’s FA Cup tie against Charlton Athletic, while Hearts director of football Craig Levein will take charge of the Jambos against Ross County.

Neilson, 36, replaces Karl Robinson, who was afforded six years in charge of MK Dons, leading them to the Championship during the 2014/15 campaign. However, he left the club by mutual consent in October after seven defeats in 15 league fixtures.

Newcastle first-team coach Ian Cathro is the clear front-runner to replace Neilson in the Tynecastle hot-seat, however Magpies boss Rafa Benitez was yesterday adamant that no approach has yet been made for the 30-year-old.

A Hearts statement confirmed: “We have agreed terms with Milton Keynes Dons FC in relation to Head Coach Robbie Neilson and Assistant Head Coach Stevie Crawford.

“Ann Budge, the Board of Directors and everyone at Heart of Midlothian Football Club would like to sincerely thank Robbie and Stevie for the enormous part they have played in helping to re-establish the club in the upper echelons of Scottish football.

“We wish them every success in their new challenge with Milton Keynes Dons FC.

"We will now begin the formal process of recruiting a new Head Coach and Assistant Head Coach."

Neilson, who guided Hearts to a superb 2-0 win over Rangers in his final match in charge on Wednesday night, said goodbye to his players at the Oriam national performance centre yesterday morning.

However, his departure took a turn for the farcical when Hearts fitness coach John Hill dressed up as the outgoing Jambos boss, complete with a mask of his face, in an attempt to fool the waiting press pack at their training base.

Later in the day, Neilson said farewell to the club’s administrative staff at Tynecastle before departing the stadium to end an association with the Gorgie outfit that spanned 10 years as a player and two-and-a-half as boss.

Neilson took charge of Hearts in May 2014 after Ann Budge rescued the club from administration and swept to power, replacing Gary Locke as head coach and appointing Levein as director of football.

His maiden season in the dugout was an unmitigated success, winning the Ladbrokes Championship with a record points total of 91 ahead of Rangers and Hibernian.

In their return to the top-flight, Hearts secured European football by finishing in third spot behind Celtic and Aberdeen, albeit their Europa League campaign ended in ignominy with defeat against Maltese minnows Birkirkara this term.

Neilson leaves the club sitting in second place, albeit having played two games more than Aberdeen.

A club spokesperson continued: “The record-breaking 2014-15 Championship-winning season, which secured our promotion back to the top flight at the first time of asking, will long live in the memory of Hearts supporters, as will the highly impressive third-place finish and the return to European football which was achieved the following season.

“They leave us in an enviable position, sitting second in the Premiership table with a healthy playing squad, rich with talent and promise.”