Schalke have announced that Wolfsburg's Felix Magath has agreed to take the role of general manager and head coach with a contract through 30 June 2013.
Via the club web-site supervisory board chairman Clemens Tönnies said of the appointment:
"We're delighted he's decided to join us. He is the top-class solution I said we would present. His appointment is a major success for us in the footballing area.
He has the necessary authority and expertise to do the job. It may even be the model for the future."
While the hiring was heavily rumoured it still came with a number of surprising sub-plots, mostly to do with the new man's discussion of "money" being the motivating factor. Given that Wolfsburg is owned by automobile manufacturer Volkswagen and is prudently trying to manage its business affairs through the difficult financial climate, a number of questions have been raised by the clubs intentions to spend with the top clubs in Europe to attract new talent as well as pay Edin Džeko the amounts needed to keep him. If this influenced Magath's decision it is also interesting to note that Schalke is intending to reduce its own salary budget by upwards of €10m.