(CNN) -- Spanish side Atletico Madrid have named former player Diego Simeone as their new coach in succession to Gregorio Manzano, who was dismissed after this week's Spanish Cup defeat by Albacete. Former Argentina international Simeone, who will be officially presented to the media on Tuesday, returns to the Vicente Calderon stadium after two previous stints there as a player. The Atletico board turned to the 41-year-old after losing patience with Manzano, whose last game in charge was Wednesday's 1-0 home loss to third division side Albacete. Is this Barcelona team the best of all time? That defeat saw Atletico crash out of the Spanish Cup 3-1 on aggregate, while they are also trailing in 10th place in the Primera Liga, 21 points behind leaders and city rivals Real Madrid.
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Atletico Madrid name Argentine Diego Simeone as their new first team coach
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Simeone replaces Gregorio Manzano who was dismissed earlier this week
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Simeone returns to Atletico after two successful stints as a player with the club
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