Guus Hiddink has signed an 18-month contract to manage ambitious Russian top flight side Anzhi Makhachkala.
"Today Guus Hiddink signed the contract. As well as the post of chief coach, Hiddink will also occupy the post as vice president of the club in charge of development," Anzhi announced in a statement.
Hiddink said Suleyman Kerimov, Anzhi's owner, had made clear to him that he was being invited to take part in an "extensive project" to develop football throughout its home region of Dagestan in the Northern Caucasus.
Financial details were not disclosed although press reports said Hiddink's net annual salary may reach €10 million ($13 million). Hiddink, who won huge respect in Russia for taking the national side to the semi finals of the 2008 European Championships, said he had already been in discussions with Anzhi at the end of last year.
"I am happy that I got such an opportunity," Hiddink was quoted as saying by Anzhi's website. "It is especially important for me that the club is building serious plans to develop football in the republic (of Dagestan) and this is no less important than what the first team achieves.
"I know the ambition of the shareholder, the club, the fans and the whole world knows about this now. And I will do everything to make sure that the team's game corresponds to these ambitions."