Ernesto Valverde has returned for a second stint as Olympiacos FC coach, succeeding Ewald Lienen on a two-year contract.
Lienen was dismissed on Friday after the club's surprise loss to Maccabi Tel-Aviv FC in the UEFA Europa League third qualifying round and the task of reviving Olympiacos fortunes has fallen to Valverde, who was unveiled on Tuesday after just a season away.
"I had decided to remain in Spain this season, but then came the Olympiacos offer and I changed my mind," said the 46-year-old. "I felt I had an obligation towards the team that treated me so well in my first spell here. I couldn't say no.
"We have to rebuild the squad, because Olympiacos came fifth last season and are now eliminated from Europe. It will take patience and hard work, it won't be easy – I don't have a magic wand.
The responsibility is huge, but I have no doubt in my mind I will be successful."
Capped once by Spain as a player, Valverde built his coaching career with Athletic Club and RCD Espanyol, taking the latter to the UEFA Cup final in 2006/07 where they lost to Sevilla FC. He occupied the Olympiacos helm during the 2008/09 campaign, winning a Super League and Greek Cup double. Valverde left for Villarreal last summer but parted company with the Yellow Submarine in January.
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