Valencia announces appointment of former Rio Ave coach Espirito Santo
JUL 04, 2014 7:15a ET
Valencia says it has hired Portuguese manager Nuno Espirito Santo as its new coach.
Espirito Santo replaces Argentine Juan Antonio Pizzi, who was let go this week.
Valencia says Espirito Santo's contract is for one season, but can be extended for an additional season if "goals" are met.
Espirito Santo coached Portuguese club Rio Ave for the past two seasons.
He is Valencia's fifth manager since Unai Emery left in 2012.
Valencia failed to qualify for European competition this season. It is undergoing a drawn-out sale to Singaporean investor Peter Lim.