Juventus have named Claudio Ranieri as their new coach.
Former Chelsea boss Ranieri left his role at Parma last week after leading the club to Serie A safety and had been widely tipped to join Manchester City.
However, it appears Juventus have beaten City to the punch and installed Ranieri as successor to Didier Deschamps, who left the Turin-based club after leading them back to Serie A at the first attempt.
Ranieri said: 'This is a beautiful, difficult and electrifying challenge.
'It is a great opportunity for me and there's a lot of work to do in order to recover Juve's standing.'
He continued: 'I have the possibility to return Juve to where they belong and it is an electrifying challenge which I don't fear.
'It is an ambitious project but I am certain that we will do well and the fans should stay calm. We will make them proud of the team in Italy and then in Europe.'
The much-travelled manager joined Parma in February as they struggled against relegation. Results soon improved and they survived on the last day of the season.
Parma were not surprised when he quit but had expected him to replace the sacked Stuart Pearce at Manchester City given his self-confessed love for English football.
Ranieri had been strongly linked with Premier League City amid speculation that former Thai Prime Minister Thaksin Shinawatra was close to buying them and wanted the Italian as manager.
However, the chance to manage one of Europe's biggest clubs, albeit damaged by their demotion to Serie B last season because of match-fixing, has proved too alluring for Ranieri.
Juventus coasted to promotion back to Serie A this season despite a nine-point deduction carried over from the match-fixing verdict.
