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Atletico sacked Abel Resino in October after a poor start to their campaign and Sanchez Flores, a former Real Madrid and Valencia defender who was also capped by Spain, was hired until the end of the season to try to stop the rot.
He led them to a Europa League triumph when they beat English Premier League side Fulham 2-1 in the final in Hamburg, and also a runners-up spot in the King's Cup.
