Chelsea confirm Hiddink

The Dutchman was quickly targeted as a replacement for Luiz Felipe Scolari, who was sacked on Monday following a poor run of results.

Hiddink, currently in charge of Russia's national side, was given permission by the Russian Football Union to hold talks with Chelsea, and will now combine the two positions.

A statement on Chelsea's official website read: "Chelsea Football Club are delighted to confirm Guus Hiddink will become temporary coach until the end of the season. He is due to meet the players this week.

"The club would like to take this opportunity to thank the Russia Football Union for their understanding and cooperation."

The wheels of the move were put into motion by Blues owner Roman Abramovich, who helps finance Hiddink's role with Russia.

And a short-term deal has been agreed which will see the former PSV Eindhoven and Real Madrid boss take charge at Stamford Bridge at least until the conclusion of the current campaign.

"It's to help out a friend. Abramovich is doing so much for Russian football and I want to do something back," Hiddink told Dutch Radio station 538.

"At the end of March there are two qualification matches, then again in June. So it is possible and at the end of the English season it's over.

'Within a few days I will go to London. I expect to be on the pitch next week."

He told Reuters: "It's never enough time to prepare a team in one week but this is an exceptional situation. Chelsea have good players and they should be in top form and that should make my job easier."

Hiddink also said he planned to attend Chelsea's FA Cup fifth round tie at Watford on Saturday.

Reports had suggested the 62-year-old is in line for a £2.5 million pay cheque for his four months in the Stamford Bridge hotseat.

But Hiddink denied his interest in the job was a result of the potentially enormous financial benefits and claimed he does not intend to put pen to paper on a contract.

"I don't have to sign one. It's not a question of money," he said.

Asked if he intended to bring any assistants with him to Stamford Bridge, he replied: "Not at this time."

"I always want to see the situation in the team myself first before making any changes if they have to be made," he added.

Meanwhile, Milan coach Carlo Ancelotti has been touted as the long-term replacement for Scolari, with the Italian rumoured to be ready to take over from Hiddink in June.