Gylfason, 35, becomes the youngest coach in the Icelandic top division after signing a two-year contract. In the wake of his new appointment, Gylfason has relinquished his U17 duties but will stay on as the assistant coach of his country's Under-21 side.
"Of course I know about the demands but
I am not worried even though this job is new to me," said Gylfason "To be a coach is a risky job but I am excited and will try my best. I have ambitions for ÍBV and I am confident that that we can add new players to the squad before the beginning of the new season."
Last season ÍBV made it to the Icelandic Cup semi-finals but finished in a disappointing seventh spot in the league, only surviving relegation on goal difference from Keflavík.
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