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Simpson has been their number one candidate for the position since Davies made his move to Pride Park on the 2nd June. Preston may well have landed themselves a winner in Simpson as he is ranked 5th in the Football League managers Association's rankings just behind Arsene Wenger, Rafael Benitez, Jose Mourinho and Sir Alex Ferguson.
Preston are hoping that Simpson will carry on his superb record in management having brought Carlisle, Simpson's home town, back from Non League football and then promotion last season as League two as Champions.
Simpson was brought to Derby as a player in 1992 for £500,000 and proved to be worth every penny as he scored some spectacular goals, finishing with a record of 164 game and 57 goals. The Rams sold Simpson to Wolves in the year 2000 for £75,000.
It is interesting to note that Paul Simpson was also born just five days before England lifted the World Cup Trophy back in 1966.