Monaco has appointed former manager, Leonardo Jardim on Friday, just over three months after he was sacked.
He replaces Thierry Henry who was sacked on early on Friday after the club found itself second from bottom in the French league.
Jardim has signed a contract until June 2021 and is expected to take charge of Tuesday’s league cup clash against Guingamp.
Monaco’s chief executive Vadim Vasilyev said that it was a mistake to sack Jardim in October 7 last year.
“Today we realise that the story of Leonardo Jardim at the club did not end as it was meant to. Leonardo should have been given an opportunity to continue his job,” admitted Vasilyev.
“Our club is going through a very challenging period. I am ready to admit that I personally bear the responsibility for this,” added Vasilyev.
“We have to acknowledge that during the summer transfer window, we sold too many key players and, despite considerable investments, mistakes were made with respect to their replacement.
“This did not allow us to create a new, competitive team. The decision to dismiss Leonardo Jardim was also premature.”
His departure, however, would have been comfortably cushioned by a reported 8.5 million euro pay-off.
Henry only managed two wins in the league and has been sacked with two and the half years left in his contract and would have to be paid off.
“Thierry Henry is a football legend but due to a very unfavourable mix of circumstances, including, above all, numerous injuries to our players, hampered him from quickly and effectively leading the team out of the crisis,” said Vasilyev.
Jardim guided Monaco to a league title just two years ago but had to contend with the sale of the club’s best talent since then.