Coach Jorge da Silva completed his move to leading Uruguayan club Penarol by signing a two-year deal on Thursday worth $45,000 a month to him and his staff.
The 50-year-old former Uruguay striker resigned from Argentina's Banfield on Monday after only three matches in charge to take up the vacancy with the five-times Libertadores Cup winners who sacked Gregorio Perez at the weekend.
Penarol vice-president Edgard Welker told Reuters it had taken two days to agree terms with Da Silva, whose nickname is "Polilla" (Moth) and who had always dreamt of coaching one his country's top two sides.
"We were able to resolve the economic problem with Da Silva and he's starting work. Always in negotiations each party has to give a little. We found something we thought was fair to both parties," Welker told Reuters, confirming the $45,000 deal.
Penarol, runners-up last year in the Libertadores Cup, have made a poor start this term to South America's elite club competition.
They have lost their first two group matches, including a humiliating 4-0 defeat by Colombia's Atletico Nacional in Montevideo last week.
In his coaching career since 2007, Da Silva has also worked at Defensor Sporting in Uruguay, Al Nassr in Saudi Arabia and Argentina's Godoy Cruz.