Former Chelsea boss Andre Villas-Boas has replaced Sven-Goran Eriksson as coach of Shanghai SIPG.
Villas-Boas will be paid a reported £11m a year - £7m more than Eriksson - and he will be reunited __with striker Hulk, who he coached at Porto and Zenit St Petersburg __with great success.
The decision to part company with former England boss Eriksson was taken following "friendly discussions", the club said in a statement, thanking the Swede for his "great contribution to the team in the past two years."
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"We sincerely hope everything goes well for Mr Eriksson's future work and life," the statement added.
SIPG were runners-up in the CSL in Eriksson's first year at the club, giving them a place in this season's AFC Champions League, where they reached the quarter-finals.
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SIPG have been among China's big spenders as money pours into the Chinese game.
Eriksson coached England from 2001-2006 and went on to lead Manchester City and Leicester City. One of several high-profile foreign names to secure lucrative contracts in China, his first job in the country was at Guangzhou R&F in 2013.