Stefano Pioli has been confirmed as Inter Milan's new coach on a contract that runs until 2018.
Pioli, 51, had been seen as the favourite to take over at the San Siro ever since Frank de Boer was sacked last week after less than three months in charge, and his appointment was announced on Tuesday.
Former Palermo, Bologna and Lazio coach Pioli beat off competition from Marcelino and Gianfranco Zola after the trio were all interviewed at the weekend, and he was on Monday invited to the office of Inter's legal team to sign his contract. He was only able to do that after officially rescinding his contract with Lazio.
Stefano #Pioli appointed as head coach of #Interhttps://t.co/gIoeZHhz7h #WelcomeStefano
:black_circle::large_blue_circle: #ForzaInter #FCIM pic.twitter.com/ne9cpucJN3- F.C. Internazionale (@Inter_en) November 8, 2016
"He seems to me to be a logical choice," former Inter president Massimo Moratti said. "He's a coach who knows Italian soccer and who has always made his clubs play well."
While financial details were not announced, Gazzetta dello Sport reported that Pioli will earn €1.4 million for the remainder of this season and nearly €2m for next season.
Piol, a former centre-back for Juventus, Hellas Verona and Fiorentina, is expected to lead his first training session on Wednesday in preparation for his first game in charge, which will be the city derby with AC Milan on Nov. 20.
He takes over a team whose objective for the season was to qualify for the Champions League, but after almost a third of the season they are currently eight points off the top three. A win over the Rossoneri in Pioli's first game would enable them to narrow that gap.
In the Europa League, Inter need wins over Hapoel Beer-Sheva and Sparta Prague to have any chance of qualifying for the knockout stages. After defeat to Southampton last week, they are currently propping up Group K with just one win and three defeats from their first four games.
The expiry of Pioli's contract in 2018 coincides with the date when Diego Simeone's current deal with Atletico Madrid expires. The Argentinian has repeatedly stated his desire to return to the Nerazzurri as coach in the future.
Former AC Milan, Inter and Juventus coach Alberto Zaccheroni also labeled Pioli the best choice.
"He has shown over the last few years to be the smartest coach with the most ideas,'' Zaccheroni told Rai state radio. "Pioli knows the Italian league. Inter players are in need of certainties right now, and a coach like Pioli can provide them."
De Boer was fired last week after Inter lost seven of 14 matches in all competitions. Inter's youth squad coach, Stefano Vecchi, had been given temporary control of the senior team for the loss at Southampton and a 3-0 win over last-placed Crotone on Sunday in Serie A.
De Boer was hired less than two weeks before the season began following the unexpected resignation of Roberto Mancini, who reportedly wanted more control over the transfer market and clashed with Suning, the Chinese retail giant that took control of 70 percent of Inter in June.
Inter fans have blamed the club's complicated global management structure for the team's troubles.
The club president is Erick Thohir, an Indonesian entrepreneur who purchased Inter from the Moratti family three years ago and who now has 30 percent of the ownership after the recent restructuring.
Michael Bolingbroke, an Englishman who formerly worked at Manchester United, resigned his position as CEO on Monday. There are five Chinese representatives on the club's nine-member board of directors -- Ren Jun, Mi Xin, Liu Jun, Yang Yang and Zhang Kangyang.
During Inter's win over Crotone, supporters displayed banners that read, "Shame on the management," and, "Thanks Frank, you're paying for errors that were not yours."