Ferreira named Panathinaikos coach

Former FC Porto and Malaga coach Jesualdo Ferreira has signed a one-and-a-half year contract with Greek champions Panathinaikos, the Athens club announced on Saturday.

No financial details of the deal were revealed by the team but local press reports said Ferreira would be receiving 700,000 euros for the duration of this season and another 1.3 million euros for next season.

“I’m very, very glad with the contract I signed with the president (of Panathinaikos Nikolas Pateras). I’m very satisfied to come to Panathinaikos and my target is to do a good job here,” the 64-year-old Portuguese coach told reporters after officially joining the club.

Ferreira, who guided Porto to three Portuguese championships and two cups, will begin coaching on Sunday and will have to prepare the team for its big Champions League match at home with Barcelona on Wednesday.

He replaces interim Polish coach Jacek Gmoch who stepped in briefly when Nikos Noplias resigned last week after a string of poor performances, and especially in the Champions League where Panathinaikos has managed only two draws in four matches.

“I have a very good opinion of the coach. He is a very experienced coach and I believe he will be a major asset to the team,” Pateras said.