Guus Hiddink has been appointed the new manager of Anzhi Makhachkala.
Hiddink has been out of work since leaving Turkey, having lost to Croatia in a Euro 2012 qualification play-off last year. He had been linked with the vacancy at Chelsea, with the London Evening Standard reporting on Thursday that a number of Blues players were eager to see him return to Stamford Bridge.
England and PSV Eindhoven were also touted as possible destinations.
However, he has now agreed to join big-spending Russian club Anzhi on an 18-month contract, succeeding Yuri Krasnozhan, who resigned his position earlier this month before having taken charge of a single competitive game.
"At the end of last year we had long discussions with Anzhi and that's why I have now made a prompt decision," the former Russia boss told the club's official website. "I'm glad to accept such an opportunity, to work not only with the football team but also with my friends who invited me here.
"The most significant thing for me is that the club is building plans on football development in the republic. It's just as important as the sporting results of the first team, and I'm going to pay special attention to this direction.
"We spoke a lot with [club owner] Suleiman Kerimov about this, after which I understood what a huge project I was invited to. I know about the ambitions of the stockholder, the club, fans - now it's known to the whole world. I'll do my best so that the team's play will satisfy these ambitions."
Hiddink, 65, has appointed Ton du Chatinier and Zeljko Petrovic as his assistants. He will take charge of squad that includes Samuel Eto'o, Roberto Carlos and Yuri Zhirkov.