(Valencia, ESP) - Serbian Miroslav Djukic has been appointed as the new coach of Valencia on a two-year deal, the Liga club confirmed on Wednesday.
Djukic has signed a deal through to the end of the 2014/15 season and replaces Ernesto Valverde, who had been in charge at the Mestalla since last December.
The 47-year-old, who has spent the last two seasons in charge of Real Valladolid, previously spent six years with Valencia as a player, featuring in their Champions League final defeats in 2000 and 2001.
Valencia finished fifth in La Liga in the season just finished, qualifying for next season's Europa League.
Meanwhile, Amadeo Salvo has been named as the club's new president, becoming the permanent successor to Manuel Llorente, who stepped down in April.
Salvo's main task will be to try and reduce the club's huge debt, which is currently believed to stand around 440 million euros ($575m), and finish the building of a new stadium, which has been untouched since 2009 because of financing problems.
