Mauricio Pochettino has signed a two-year contract to become the new coach of Chelsea Football Club.

From 1 July, the Argentine coach will be tasked with overseeing an expensively built squad that finished 12th in the Premier League this season.

Pochettino is no stranger to London after spending five and a half years at North London side Tottenham Hotspur. This will be his first coaching assignment since he left Paris Saint-Germain last July.

Pochettino was expected to take the Chelsea job, which is considered one of the most high-profile positions in European football.

“Mauricio’s experience, standards of excellence, leadership qualities and character will benefit Chelsea Football Club as we move forward,” the Chelsea website states.

He is the permanent successor to Graham Potter, who was fired in March after nearly seven months in office. Frank Lampard has been leading the team on an interim basis ever since.

Chelsea have debt

It’s been one of Chelsea’s worst seasons in the Premier League. The club finished the second half of the table for the first time in 27 years.

The London club recorded 11 league victories, amassed only 38 league goals and failed to qualify for European football.

The team spent €690 million on players last year, but failed to turn that investment into success on the pitch, something new US owner Tim Boehly didn’t like.