AFTER 10 days of intense speculation, Football Federation Australia has got its man - on Wednesday afternoon unveiling Ange Postecoglou as the Socceroos new coach on a five-year deal.

After several days of negotiations with Melbourne Victory, the terms of Postecoglou's release from the A-League's biggest club were agreed on Wednesday morning, despite some lingering feelings of angst from the Victory board.

That cleared the way for the FFA to unveil the popular figure at an afternoon media conference, giving Postecoglou time to plan for next month's friendly against Costa Rica, as he attempts to revitalise an ageing side on the back of demoralising defeats to Brazil and France.

And flanked by FFA chairman Frank Lowy and chief executive David Gallop, Postecoglou made clear that it would be his mission "for the next five years and hopefully more" to "restore pride in the Socceroos jersey".

"Obviously it's a tremendous honour for me to be sitting here. I love a good challenge and this is certainly one of those," Postecoglou said.

"My hope is that we can restore pride in this country and in the Socceroos. I still think they are the flag bearers of football in this country. There's plenty of work to be done and day one will start for me on Monday. I'm enormously grateful to be extended this opportunity.

"I plan for the next five years and hopefully longer to put my heart and soul into it."

And a clearly chuffed Lowy said he had "no doubt" Postecoglou was the right man for that challenge, with a five-year deal proof that plenty of faith has been placed in the A-League success story.

"We have the faith in him. We know that he's a good guy, he's the right person for us at this time in our development," Lowy said.

"I think in the last 10 years or so we've had international coaches. It was the time for them then. Now is the time for an Australian."

Gallop thanked the board for acting "so quickly" once a decision had been made to appoint an Australian coach.

But the CEO made clear that he believed nationality was irrelevant when it came to who the best man for the Socceroos job was.

"We have today a coach starting a journey who we believe can unite our players to play at the highest level. And unite our nation behind the Socceroos," Gallop said.

"Our technical experts have said that he's the right man, and it's certainly a bonus that he's an Australian.

"We've seen that we've got a true leader and I want to extend my excitement at the appointment."

Postecoglou's first game at the helm has been scheduled for November 19 at Sydney Football Stadium, with his inaugural Socceroos squad expected to be named early next week.

But he will lead Victory into battle against his former club Brisbane Roar on Friday night at Etihad Stadium before turning his attention to the mission of leading Australia to the 2014 World Cup.

After tense and often heated negotiations between the A-League club and the game's governing body the breakthrough came late on Tuesday when Victory backtracked on its hardline stance and agreed to accept just $50,000 in "transition costs" after initially demanding $1 million.

Victory chairman Anthony Di Pietro confirmed on Wednesday morning that the club would not stand between Postecoglou and Australia's top job.

"The circumstances that Ange and the Club have been confronted with are complex and compelling no matter what perspective you take. That said, we have made it clear to Ange that we will not stand in the way of him accepting the biggest coaching role in this country," Mr Di Pietro said.

“However, we are disappointed with the process undertaken by the FFA, given the outcomes we tried to secure could never have been achieved within the timeframes offered, which ultimately forced us to accelerate our decision not to stand in Ange’s way.

“Ange Postecoglou has had a profound impact on Melbourne Victory Football Club over the past 18 months and the club is extremely appreciative of everything he has implemented during his tenure.

"Ange’s appointment as Socceroos coach is a fantastic endorsement for our club, its culture and the standards we strive to set. We thank Ange and he will certainly always be part of the Melbourne Victory family.

“This week’s game becomes our focus and we can confirm that Ange will be the head coach on Friday, so we’re looking forward to our members and fans coming out in force.”

Postecoglou, 48, flew to Sydney after Victory training Tuesday - which was the first time he broached the subject with his players - to meet Lowy and sign a deal that will take in the World Cup, the 2015 Asian Cup and beyond.

The Costa Rica friendly will launch Australia’s countdown to the World Cup, although FFA has scrapped plans to play a second November friendly despite the temptation of playing a game in Melbourne. They had initially penciled in a double header with Ireland.

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