Harry Redknapp has been officially confirmed as the new manager of Premier League strugglers Tottenham Hotspur following the sacking of Juande Ramos on Saturday night.
Spurs, who sit bottom of the English top flight, have agreed a compensation package of around five million pounds (7.9 million dollars) with Portsmouth to bring in Redknapp immediately.
Ramos left the club after its worst-ever start to the season which has left it anchored to the bottom of the league, Spurs announced late Saturday.
Redknapp -- who was in charge at Portsmouth -- was confirmed as the new man in charge at White Hart Lane after Portsmouth had "reluctantly" agreed to talks.
It has led to a return to London for the former West Ham boss, and although facing a huge challenge Redknapp believes his move will be best for the long-term future of both clubs.
He told BBC Radio Five Live Sportsweek programme: "I suddenly got a phone call and was told Tottenham were interested in me, and I thought it was a wind-up at first.
"Then when I had spoken to them, I decided it was a good move for everybody, for Portsmouth as well in the long term and they have a terrific compensation deal when things were a bit tight.
"I just thought maybe it was time to move on and Tottenham are a big, big club.
"I thought 'let's just give it a go before it is too late'.
"I could have gone to Newcastle, but did not take it and a lot of people said 'he does not have any ambition', so this is a good chance for me.
"It is a tough job, they are bottom of the league, so let's see what we can do."
Despite winning the League Cup in February, Spurs have taken just two points from eight games.
Their UEFA Cup group campaign also got off to a poor start Thursday when they were beaten 2-0 at Udinese amid reports that dressing room confidence has hit rock-bottom.
The northeast London club announced Saturday that Ramos, formerly in charge at Sevilla, and other key staff were leaving.
A statement from Tottenham chairman Daniel Levy on Sunday read: "Relieving Juande Ramos, our head coach, and Juande's assistants, Gus Poyet and Marcos Alvarez, of their posts is not something I have undertaken lightly.
"Unfortunately, our record of just three league wins since our memorable Carling Cup victory against Chelsea last February, combined with our extremely poor start to the season, led the board and I to determine that significant change was necessary as a matter of urgency."
Levy made it clear the departure of sporting director Comolli signalled a return to a "more traditional style of football management".
He added: "We must prepare ourselves to take advantage of the January transfer window.
"Harry's experience of the UK and international transfer market will be of critical importance and I shall be looking to Harry for clarity on our priorities."
Redknapp added: "The chairman knows the team needs strengthening in two or three positions still, we are short in one or two areas and that is something I will be looking at.
"However, first and foremost it will be about getting the best out of the players who are here. There are some good ones who have not done as well as they should have done.
"We have got to get them playing to their maximum and if we do that, then we will be OK."
Tottenham said that Clive Allen, a former club player who is now development squad coach, and youth team manager Alex Inglethorpe would be in charge for Sunday's clash with Bolton.
Redknapp expects to be at White Hart Lane for the Bolton match and plans to address players before the match.
Ramos, who won the UEFA Cup with Sevilla, had only been in the job for a year. The team's recent performances have been criticised by players Jonathan Woodgate and David Bentley.
"We aren't too good to go down -- believe me," defender Woodgate said.
"We really have got to roll up our sleeves because I am telling you, it is going to be hard."