Dundee have announced that former Rangers midfielder Alex Rae will be their new player-manager.
Rae is already on the look out for new players
The 36-year-old has agreed a two-year deal and will be assisted by David Farrell and Gordon Wallace - who was on the previous coaching staff.
"In my opinion, I was a successful player and I want to continue that into management," said Rae.
"I know the financial troubles the club have had but they are gone now and I want to take them on."
Former Sunderland and Wolves player Rae has spent the past two seasons at Ibrox but his appearances were limited by injury this term.
There were other options open to Rae but the lure of a first job in management was too strong to resist.
"I had offers to go back to England and continue playing, but the thought of moving back there and doing lots of travelling was too much for me," he added.
"It was a family decision - as well as a football one - to come here.
"And, although I was also thinking about going down the coaching route, opportunities such as this one do not come along very often.
"I now have a holiday to take before I finalise the squad and talk about which players to bring in, but I am really looking forward to getting started."
Rae replaces Alan Kernaghan, who was sacked last month after a disappointing season in the First Division.
And Dundee chief executive David MacKinnon believes Rae is the perfect role model to help the current crop of youngsters develop at Dens Park.
He said: "The young players here need a leader on the pitch and Alex has the ability to inspire them, because everyone at the club will look up to him.
"The youngsters will definitely respect Alex and I am sure he will set high standards which they will have to aspire to."