Cuper named new Racing Santander coach
"Hector Cuper will be Racing's coach for the 2011/12 season," the top-flight club said on their website on Wednesday.
Cuper, who has previously been in charge of Inter Milan and Valencia, resigned from his post at Greek Super League side Aris Salonika in January.
He coached Valencia from 1999-2001, guiding them to successive Champions League finals in 2000 and 2001, losing to Real Madrid and Bayern Munich respectively.
Marcelino walked away from Santander after leading them to 12th place last season and joined La Liga rivals Sevilla.
He accused Indian businessman Ahsan Ali Syed, who bought the club in January, of breaking promises.
Santander have asked the regional government of Cantabria and the previous owners to step in if Ali Syed does not honour his financial commitments.
Ali Syed has been quoted in local media as saying he intends to make good on pledges, including helping to settle a debt of around 13.5 million euros with players and one of around nine million euros with the Spanish tax authorities.