Athletic Bilbao have appointed Ernesto Valverde as their new coach, the Spanish La Liga club announced Thursday.
The 49-year-old Valverde replaces Marcelo Bielsa after the club opted not to renew the Argentine's contract following a disappointing campaign in which the Basque outfit finished 12th in the league.
"Athletic Club and Ernesto Valverde have reached an agreement for him to become the coach of the first team," read a statement on the club's website, adding that Valverde would be officially presented at 1030GMT on Friday morning.
Valverde, who took charge of Valencia in December, left the Mestalla at the end of the season having seen the club narrowly miss out to Real Sociedad for a place in next season's Champions League on the final day of the campaign.
The Spaniard began his coaching career at Bilbao, who he managed between 2003 and 2005, after also spending six years there as a player before moving to Espanyol, who he guided to the 2007 UEFA Cup final where they lost on penalties to Sevilla.
He also had two spells at Greek side Olympiakos, with whom he won three league titles, with a spell at Villarreal sandwiched inbetween.