Former Argentina midfielder Diego Simeone will take over as San Lorenzo coach next week after the club confirmed an agreement has been reached.
After a six-hour meeting, club president Rafael Savino confirmed former River Plate boss Simeone will replace Miguel Angel Russo, who resigned following San Lorenzo's Copa Libertadores elimination. Russo, meanwhile, is close to taking over at Rosario Central.
Savino said: "Yes, Simeone is the new coach. He will sign a 15-month contract and will be presented at a press conference next Monday."
Savino confirmed Simeone will not coach the team on Sunday against San Martin, however.
"His first match will be in two weeks against Racing. (Interim coach) Alberto Fanesi will continue working during this week."
The former Atletico Madrid and Lazio midfielder will be joined by two assistants, former Arsenal defender Nelson Vivas and former Inter Milan midfielder Andres Guglielminpietro.
Simeone started his managerial career as coach of Racing, his last club as player, in 2005. The following season he led Estudiantes to a surprise victory in the Apertura tournament before moving on to Buenos Aires giants River Plate.
He took River to the Clausura title in his first season but finished rock bottom in the subsequent Apertura, prompting his resignation.