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Granada appoint Paco Jemez as new coach on three-year contract

Former Rayo Vallecano boss Paco Jemez has become the first head coach hired by Granada's ambitious new Chinese owners.

The 46-year-old has signed a three-year contract with the Primera Division club, who were sold to Chinese firm Link International Sports earlier this month.

A statement published on Granada's official website said Jemez -- recently in charge of relegated Rayo -- would be presented by his new employers on Wednesday.

Las Palmas-born Jemez has previously coached Cartagena and Cordoba, and steered Rayo to an eighth-placed finish in La Liga in 2012-13.

The Madrid outfit's fortunes subsequently waned, however, and they placed 18th last season, suffering demotion to the Segunda Division along with Levante and city rivals Getafe.

Link International Sports owner Jiang Lizhang bought a majority stake from the Pozzo family after the Italians decided to focus on their other clubs, Udinese of Serie A and Premier League side Watford.

Lizhang has already replaced sporting director Juan Carlos Cordero with Javier Torralbo and, having spent 37million euros to buy the Andalusian club, looks set to invest heavily in the playing squad.

Last week he told Granada's website: "We acknowledge the work done by Gino Pozzo, in what has been a brilliant run after leading the club from Segunda B [third tier] to the Primera Division.

"And [president] Quique Pina, for the dedication and work he has done to help Granada reach the highest possible level for all these years.

"Our goal is to enhance all areas of the club to continue making our own history in the league and to get as far as possible.''

Jemez replaces Jose Gonzalez, who guided Granada to a 16th-placed finish last season after taking over the reins from the sacked Jose Ramon Sandoval in February.