Claudio Ranieri was unveiled as the new coach of Valencia today after he returned to the club he left for Atletico Madrid in 1999.
The Italian, sacked by Chelsea last week despite guiding them to the Champions League semi-final and second in the Premiership, had been widely tipped to take over at the Mestalla.
He replaces Rafael Benitez, who resigned last week despite clinching a Primera Liga and Uefa Cup double. Benitez has been tipped to succeed Gerard Houllier at Liverpool.
During his previous spell at the club, which lasted two years, Ranieri won the Copa del Rey and clinched qualification for the Champions League.
"I am very happy," declared Ranieri, who has signed a three-year contract. "When they called me up, I said I'd go swimming back. I have always had my heart here and the hope of returning, this is my home, I still have my [Valencia] ID card because I knew I'd be back one day."
Ranieri faces a tough challenge after years of success since he left the club.
His replacement Hector Cuper led the club to two Champions League finals - both of which ended in defeat - and when he left Benitez arrived and won the 2002 Primera Liga as well as last season's success.
Ranieri added: "I left Valencia at a good moment, then Hector Cuper came and worked very well while Benitez did a great job.
"It is hard to follow, but I accept the challenge. I like to work hard and I am certain to say I will continue that.
"Rafa Benitez put together a great squad and I know a lot of the players who were with me. I have a good relationship with the technical staff and I am happy with everything and certain we will work well."
Ranieri will also have the responsibility of making his own signings after the departure of director of sport Garcia Pitarch. Interestingly, that was thought to be Benitez's main gripe with the Valencia set-up.
Ranieri also expressed his confidence that his experience in England would help make Valencia even harder to beat.
He added: "I think there are three big leagues: Italy, Spain and England. Nothing is easy in any of them. They are all different as regards culture. For example, you don't like Italian defensive style, but we think defence is important.
"The Spanish like spectacle and that's good, while in England they are fighters, the ball is in the middle and you have to die on the pitch for it.
"I think my experience of the three is something I will try and give to my players."
