Allardyce has been manager of Bolton since October 1999

The film shows two agents claiming they paid bungs - illegal payments - to Allardyce, who has asked his lawyers to take "appropriate" steps.

"Obviously I'm denying all allegations that have been alleged against me. The matter's in the lawyers' hands and will be resolved by due process," he said.

"I have instructed my lawyers to take the appropriate action."

Interview: Bolton boss Sam Allardyce

Interview: Sports minister Richard Caborn

Report: FA probes BBC 'bung' allegations

Allardyce insisted he had been the innocent victim of the "greed" of others on the programme.

He said: "I am very angry at the lies told about me. The individuals who appeared in the programme making accusations against me have already confirmed in writing to my lawyers they lied to the BBC.

"They lied in the hope of being able to make millions offered by the BBC reporter to buy their sports agency business.

"Those individuals never thought their lies would be exposed in the way they have been and have apologised to me.

"As a result of their greed, my good name has been tarnished by deceit and innuendo."

WHAT IS A BUNG? A secret and unauthorised payment seen as a financial incentive to help a transfer go through HOW DOES IT WORK? An agent pays a club official a slice of his cut for the help of the club official helping the transfer go through AGENTS' RULES: An agent may... never so approach a player who is under contract with a club with the aim of persuading him to terminate his contract prematurely or to flout the rights and duties stipulated in the contract

Allardyce's son Craig was filmed boasting about how he could get access to his father to do deals for Bolton, and was accused by the programme of receiving secret payments

The Bolton boss admitted: "As a father, of course, it is painful to watch your son talk tall and exaggerate his influence for financial gain.

"If there is any real evidence - and there won't be, as I am utterly innocent of any wrongdoing - I would expect the BBC to give that evidence to both the FA and the (Premier League's) Quest inquiry."

The FA has asked for any evidence uncovered by the Panorama programme.

"These are serious allegations which have been made by Panorama and we are determined to investigate them fully," said FA chief executive Brian Barwick.

"It is vital for the integrity of the game and for every football supporter that we do this."

And Bolton Wanderers Football Club has also said it may request further information from the BBC.

A Bolton statement said: "The club takes the allegations broadcast very seriously but owes it to its fans, Sam and all of its players and staff not to over-react.

"It is our duty to act only on facts and hard evidence. The club is committed to conducting a thorough and robust investigation into the allegations which were made in the Panorama programme.

"As part of the process, the club will work with Sam to establish the facts."

BBC Panorama has said in a statement that it will cooperate with requests relating to the programme from the relevant investigating authorities, and "will do so in line with our normal processes and procedures in cases of this kind."