(CNN) -- Former German international star Lothar Matthaeus is to take charge of the Bulgarian national team, it was announced Tuesday.
The much-traveled Matthaeus replaces Stanimar Stoilov, who quit after Euro 2012 qualifying defeats to England, and more damagingly, Montenegro earlier this month.
"Lothar Matthaeus is the new national team coach," Bulgarian Football Union president Borislav Mihaylov told a press conference Tuesday.
Mihaylov said Matthaeus will be given a one-year contract with an option to extend for two more years.
The 49-year-old enjoyed a glittering playing career, taking part in five World Cups and leading Germany to their 1990 triumph.
He was also named as the first-ever FIFA World Player of the Year in 1991 and earned a record 150 caps for his country.
Matthaeus also won Bundesliga and Serie A titles with Bayern Munich and Inter Milan.
But his managerial career has been less successful and his last job was a one-year spell in charge of Maccabi Netanya in Israel and he has also coached Partizan Belgrade and Red Bull Salzburg.
The former midfielder's only international experience was with the Hungarian national side from 2003-2005, leaving after they failed to qualify for the 2006 World Cup finals.
His first game with Bulgaria will be against Wales next month as they attempt to get their qualifying campaign back on track in the October 8 clash.
Meanwhile, Paulo Bento was confirmed Tuesday as the new Portugal coach until the end of Euro 2012.
The 41-year-old, who won 35 caps for Portugal, succeeds Carlos Queiroz, who was sacked earlier this month.
Real Madrid boss Jose Mourinho had been linked with the job on a temporary basis but later ruled himself out.