Paco Ayestaran has said that his decision to take over as manager at Valencia was based on having the approval of ousted coach Gary Neville.
Neville, 41, was appointed head coach of the La Liga club on Dec. 2 but failed to turn their season around and was sacked less than four months later.
In 16 games in charge of Valencia, Neville won just three games, drew five and lost eight. Los Che currently sit 14th in the table, six points above the relegation zone.
Ayestaran was officially presented in his new role on Thursday by Valencia chairwoman Layhoon Chan and sporting director Jesus Garcia Pitarch.
OFFICIAL PRESS CONFERENCE | Pako Ayestarán "I am excited and grateful" ➡ https://t.co/z9Mw8RNX1V pic.twitter.com/4Uw3StWl76
- Valencia CF English (@valenciacf_en) March 31, 2016
"When I was presented with the offer to take over, my condition was that Gary had to be in agreement," Ayestaran told reporters. "Until I had spoken with Gary I told them not to send any payment out of Singapore.
"I met with Peter Lim and it was an encouraging meeting," said Ayestaran, who was the club's assistant coach from 2001 to 2004 and helped clinch two La Liga titles and a UEFA Cup trophy. "I can see that the club ownership is not making short-term decisions. They understand that the club does not have the proper culture nor infrastructure and they are trying to change that."
From 2004 to 2007, when Ayestaran was an assistant coach of Liverpool FC, the English club won the 2004-05 UEFA Champions League, as well as the 2006 FA Cup. As a head coach Ayestaran was a winner with Maccabi Tel-Aviv (winning one league and two Cups). He also coached in Mexico with Santos Laguna and Estudiantes Tecos (champions of the Clausura Tournament)."
"It is positive when you return to a place where you have felt comfortable, loved and worked with determination. I am very excited, thankful that I am being given the chance to lead this project and clear that I will contribute my knowledge, experience, passion, determination and ability to work," he said.
"I want to spread these concepts to the players and those around the team, because the club is everyone: The team, staff and fans. The benefits to the club are down to everyone, and that stance is opposed to anyone thinking only about individual interests."
Valencia reached the semifinals of the Copa del Rey but lost 7-0 to Barcelona in the first leg at the Camp Nou, and 8-1 on aggregate. Athletic Bilbao knocked them out of the Europa League at the round-of-16 stage.
Valencia have eight games left to climb up the La Liga standings, although they include meetings against four of the top six -- they face Barca and Real Madrid away, and Sevilla and Villarreal at home.
They travel to the Canary Islands to face Las Palmas on Saturday, before next hosting Sevilla at the Mestalla.