Rayo Vallecano have replaced Michel after his sacking as the first-team coach, having decided to bring in former boss Paco Jemez.
The tactician was previously in charge at Vallecas between 2012 and 2016 and returns to try to pull the side out of the LaLiga Santander relegation zone.
Even though his and the club's focus will be on the remaining 10 matches of the 2018/19 season, the 48-year-old has signed a deal that runs to the summer of 2020.
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Rayo Vallecano
Paco Jémez