Tinkerman happy to 'home' in Valencia
The Italian, sacked by Chelsea last week despite guiding them to the Champions League semi-final and to second in the Premiership, had been widely tipped to take over at the Mestalla.
He replaces Rafael Benitez who resigned last week despite clinching a Primera Liga and UEFA Cup double. Benitez has been tipped to succeed Gerard Houllier at Liverpool.
During his previous spell at the club, which lasted two years, Ranieri won the Copa del Rey and clinched qualification for the Champions League.
"I am very happy," declared Ranieri, who has penned a three-year contract.
"When they called me up, I said I'd go swimming back. I have always had my heart here and the hope of returning, this is my home."
Ranieri faces a tough challenge after years of success since he left the club.
His replacement Hector Cuper led the club to two Champions League finals both of which ended in defeat and when he left Benitez arrived and won the 2002 Primera Liga as well as last season's success.
Ranieri added: "I left Valencia at a good moment, then Hector Cuper came and worked very well while Benitez did a great job.
"It is hard to follow, but I accept the challenge. I like to work hard and I am certain to say I will continue that," he said.
Ranieri will also have the responsibility of making his own signings after the departure of director of sport Garcia Pitarch. Ranieri also expressed his confidence that his experience in England would help make Valencia even harder to beat.
He added: "I think there are three big leagues, Italy, Spain and England. They are all different. For example, you don't like Italian defensive style, but we think defence is important. The Spanish like spectacle and that's good, while in England they are fighters, the ball is in the middle and you have to die on the pitch for it."




