Dick Advocaat will sign a one-year deal to be the new PSV Eindhoven manager, while agreeing to nurture an assistant to take over in 2013.
Advocaat has already finalised terms to return to the Netherlands in the off-season, after announcing that he will step down as Russia manager after Euro 2012.
Goal.com understands that the 64-year-old Dutchman insisted to PSV chiefs that he will only take charge of the team for one season and has agreed to educate either Philip Cocu or Ernest Faber, with one of the two to lead the team beyond next year.
Cocu, a former Dutch midfielder, took over in a caretaker capacity in March but has since admitted that he is not yet ready for the head coach job and will revert to an assistant role next season.
Faber, a former PSV player and youth coach who returned to the club in March from FC Eindhoven to assist Cocu, will also remain part of the backroom team under Advocaat.
Advocaat, who had a stint as PSV boss from 1995-1998, said last week that he had reached an agreement to return to the club and expected to sign a contract shortly.
Advocaat is still widely disliked in Australia after being linked to the national coaching position in the wake of Guus Hiddink's success at the 2006 World Cup. However, when Advocaat decided against coming to Australia, Pim Verbeek was appointed to the role, eventually taking Australia to an unsuccessful 2010 World Cup appearance.