Leicester have named former Plymouth boss Ian Holloway as their new manager.
Holloway had been at Plymouth since June 2006
The 44-year-old, who has also managed Bristol Rovers and QPR, resigned from his post at Argyle on Wednesday and has signed a three-and-a-half-year deal.
He becomes the Foxes' fourth permanent boss of 2007 following spells under Rob Kelly, Martin Allen and Gary Megson.
"I just felt that I couldn't turn this down. I can't wait to get started," said Holloway, who had been in charge at Home Park since June 2006.
"This is a whole new challenge, which throws me into a whole new ballpark."
Holloway said Plymouth chairman Paul Stapleton had informed him of Leicester's interest but then refused permission to talk to them.
If you look at it in acting terms I've been on Eastenders all my life and now I'm King Lear
He has come under fire from Argyle fans for leaving after publicly stating his love for the local area.
But he insisted falling attendances and the chance to manage a big club were the main factors in "the biggest decision of my life".
"Plymouth fans are going to be hurt and feel betrayed but I've done the best job I can for Plymouth. I couldn't have done any more," he explained.
"My chairman knows how I was feeling over the last few months. He's a fantastic man and did all he can but no matter what I did and said, our gates were getting smaller and smaller.
"And some of the fans shocked me a few weeks ago by some of the things they said.
"I've been experienced enough to handle almost every situation apart from being favourite.
"I'm excited by that - it's a different role for me. If you look at it in acting terms I've been on Eastenders all my life and now I'm King Lear."
Joe Royle, Peter Reid, Graeme Souness and Jean Tigana had already been interviewed for the position, while Paul Jewell, Iain Dowie and Simon Grayson were also linked.
The Foxes are languishing in 17th place in the Championship but chairman Milan Mandaric believes the new man will bring about a revival.
"It has been a long and tough season to date for everyone connected with this football club, but now I am confident that I have got the man to take us forward," Mandaric said.
"He has honesty, enthusiasm and drive. He plays a good style of football and I believe he is a manager that my supporters will enjoy and respect."
Mandaric said a compensation package had been agreed with Plymouth and confirmed that first-team coach Gerry Taggart and goalkeeping coach Mike Stowell will continue in their roles.
But Frank Burrows, who had been in temporary charge along with Taggart after Megson quit to join Bolton last month, has left.