Guus Hiddink has been named as the new manager of big-spending Russian club Anzhi Makhachkala.

The 65-year-old Dutchman has signed a one-and-a-half-year contract with the Republic of Dagestan-based side, who are bankrolled by their billionaire owner Suleyman Kerimov. The club's previous coach Yury Krasnozhan resigned earler in the week after only two weeks at the helm.

Despite their unheralded history, Anzhi have come to prominence in the past year thanks to the spending drive of the deep-pocketed Kerimov. As a result, the club has been able to attract big-name players including Brazilian World Cup winner Roberto Carlos and Cameroon superstar Samuel Eto'o.

Hiddink was last seen as manager of Turkey, having previously gained a reputation for leading both South Korea and his home nation to World Cup semi-finals. He has also previously won the European Cup with PSV Eindhoven in 1988.

At the end of last year we had long discussions about Anzhi and that's why now I made a prompt decision, Hiddink said. in a statement released on Anzhi's website. I'm glad to accept such an opportunity, to work not only with the football team but also with my friends who invited me here.

The most significant factor for me is that the club is building plans on football development in the republic. This is as important as getting results for the first team and I'm going to pay special attention to this direction. We spoke much with Suleyman Kerimov about this after which I realized what a grand project I was invited to be a part of.

I know about ambitions of the owner, the club, the fans, now it's known to the whole world. I'll do my best so that the team's play would satisfy these ambitions.

The appointment of Hiddink, one of the most coveted coaches in world soccer, also has ramifications for either clubs. Most notably Chelsea.

With Chelsea's manager Andres Villas-Boas presiding over a wretched run of form for the London side, much talk has focused on the possibility of Hiddink being drafted in as a replacement.

Hiddink has been a long-time confidant of Chelsea's billionaire Russian owner Roman Abramovich and even managed the club for a successful short spell in 2009.

With Hiddink safely ensconced in a new role it may alleviate some of the pressure on the beleaguered Villas-Boas, who right now will take any boost he can get.