Former Manchester City manager Roberto Mancini has signed a three-year deal with Galatasaray to replace Fatih Terim who was sacked as manager last week.
Galatasaray added that the Italian would be paid €3.5million euros for the rest of the season and €4.5million for each of the following two seasons, excluding bonuses.
Mancini, 48, was dismissed as City manager in May after a three and a half year reign at the Etihad Stadium which included a Premier League title in 2012 and an FA Cup success a year earlier.
Terim, who is also the Turkey manager, was voted out of the Galatasaray job at a meeting of the club's board of directors after rejecting a contract extension.
Galatasaray, who in January spent heavily on Didier Drogba and Wesley Sneijder, have made a disappointing start to the season, and are 10th in the Turkish League.
They have taken seven points from five league games and were thrashed 6-1 at home by Real Madrid in the Champions League.