Speed today (Monday) held talks with Chairman Kevin McCabe and Chief Executive Trevor Birch in Spain, and he is understood to have accepted their offer to become the new boss at Bramall Lane.
The identity of the appointment is yet to be confirmed by the club, but they have released a statement on the official website announcing a press conference tomorrow (Tuesday) afternoon.
The statement reads: 'Sheffield United has called a press conference for Tuesday afternoon when the new manager will be announced.
The identity of Kevin Blackwell's replacement will be confirmed at the press conference. Chief Executive Trevor Birch and the new manager will be present at Tuesday's announcement.'
Speed was refused permission to speak to fellow Championship side Swansea City in the summer.
More to follow...