Dutchman Guus Hiddink has promised to restore Russia to their former glory after signing a deal to become the national team's coach.
The hugely successful 59-year-old, who had been linked to the England manager's position which becomes vacant after this year's World Cup, said he was more interested in coaching Russia's team.
"I am very proud that I can give my contribution to develop Russian football and make Russia a great football country again because the potential is enormous," Hiddink told reporters.
"If I didn't believe in success I shouldn't have come here. I am very ambitious to be successful with all the people here in Russia.
"They are on the edge of a new period."
Hiddink will get €2 million a year as coach plus a bonus linked to results.
Russian soccer chief Vitaly Mutko said the package was partly funded by Russian billionaire Roman Abramovich, who owns English Premier League champions Chelsea.
Abramovich, ranked as Russia's richest man, is financing an ambitious programme designed to lift Russian soccer up from the doldrums it has been in since the collapse of the Soviet Union.
Russia failed to qualify for the World Cup finals in Germany which run from June 9 to July 9.
Hiddink said he turned down approaches from England's Football Association to take over from Sven-Goran Eriksson when the Swede quits his role as England coach after the World Cup.
"England was mentioned. There were some contacts between me, my agents and some people at the FA ," Hiddink said. "But I was curious about the Russian challenge. At the end I didn't have any doubts."
Hiddink, who has promised to try and learn Russian, said he had been watching the team on DVDs and was impressed by their potential.
Hiddink had previously announced his intention to leave the part-time Australia post and his job at PSV Eindhoven at the end of a season in which they have already retained the Dutch league title.
Russia's team has been without a coach since November when Yuri Syomin quit after they failed to qualify for the World Cup.
