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The 59-year-old former player signed a deal until mid-2025, having agreed to continue the second year of his contract as technical manager to make room for a new head coach. Van't Schip succeeds Maurice Steijn, who was fired last Monday after only four months at the helm due to a string of historic bad results, Xinhua reports.

Ajax are currently 18th and last place in the Eredivisie, for the first time in the history of the four-time winner of the European Champions Cup/Champions League. Last Sunday, Ajax lost 5-2 to leaders PSV in Eindhoven.