Martin O’Neill not returning to Leicester as they look to Claudio Ranieri

Republic of Ireland manager Martin O'Neill will not be taking over as manager of Leicester City after the Premier League club announced on Monday afternoon that former Chelsea boss Claudio Ranieri has been appointed first-team boss at the club.

O'Neill had been heavily linked with the club following the sacking of Nigel Pearson, the Derryman seen as a safe pair of hands following his time at the club in the late 90s.

Ranieri, 63, managed Chelsea from 2000 to 2004 and has a wide experience in club football all over Europe with sides such as Atletico Madrid, Valencia, Juventus, Inter Milan and Monaco.

“I’m so glad to be here in a club with such a great tradition as Leicester City,” said Ranieri. “I have worked at many great clubs, in many top leagues, but since I left Chelsea I have dreamt of another chance to work in the best league in the world again.

“I wish to thank the owner, his son and all the executives of the club for the opportunity they are giving me. Now I’ve only one way for returning their trust: squeeze all my energies to getting the best results for the team.”

The club’s vice-chairman Aiyawatt Srivaddhanaprabha added: “It is my great pleasure to welcome Claudio Ranieri – a man of remarkable experience and knowledge that will lead us into the next phase of our long-term plan for Leicester City.

“His achievements in the game, his knowledge of English football and his record of successfully coaching some of the world’s finest players made him the outstanding candidate for the job and his ambitions for the future reflect our own.

“To have attracted one of the world’s elite managers speaks volumes both for the progress Leicester City has made in recent years and for the potential that remains for the club’s long-term development.”

Pearson was sacked by Leicester two weeks ago despite keeping them in the Premier League after a remarkable late surge of victories, with the club making a statement at the time which said “fundamental differences in perspective exist between us”.

(Guardian service and agencies)