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Chicago Fire hire Serbia under-20 coach Veljko Paunovic

The Chicago Fire hired Serbian manager Veljko Paunovic as their new coach on Tuesday.

Paunovic, 38, led Serbia to the Under-20 World Cup crown this summer, when his squad beat the United States on penalties in the quarterfinals.

He replaces Frank Yallop, who was fired in September while Chicago went on to finish with the worst record in Major League Soccer.

"In the face of stiff competition from other global soccer clubs, we are extremely fortunate to have secured our first choice, Veljko Paunovic, as our head coach," Fire general manager Nelson Rodriguez said in a statement.

"We conducted a thorough search process and, over its course, Pauno consistently graded highest across all of our desired characteristics. He is a champion, teacher of the game and man of great principle and integrity."

The Fire will be Paunovic's first job in charge of a club, as he's only managed Serbia's international youth teams since retiring in 2011.

He had two spells with Atletico Madrid as a player and ended his career in MLS in 2011 with the Philadelphia Union.

"I want to thank [owner] Andrew Hauptman, Nelson Rodriguez and the whole executive team of the Chicago Fire, for choosing me, among other great candidates, for the coaching position," Paunovic said.

"I am very excited and enthusiastic to start working with the team, to meet the people and fans, who I know are very passionate and loyal to the club. This is the opportunity that I was looking for, to work with the right people, in the right time and the right place."

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