He told the Evening Chronicle: “Sam Allardyce meant a lot to many people at Bolton Wanderers, none more than me.
“He is the best coach I have ever worked with.”
Speed added: “This is a brilliant move by Newcastle United appointing Sam Allardyce as their new manager. It is great for my old club and I have no doubt that there are exciting times ahead for them.
“Sam will whip Newcastle into a decent side. Mark my words, it will not be too long before Newcastle are challenging again for a Champions League spot.”
