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Peter Bosz is new Borussia Dortmund coach

Reportedly, Ajax receive €5 million for compensation in order to buy out his contract.

SNS | New Delhi |

Bundesliga giants Borussia Dortmund on Tuesday announced the appointment of Peter Bosz as their chief coach for a two-year period, according to a statement on their official website

The 2016 DFB Pokal winners had recently parted ways with manager Thomas Tuchel and feel that the Dutchman is the ideal candidate to lead the their squad after an impressive two seasons with Eredivisie team Ajax. 

The 53-year-old took an extremely young Ajax side to within a point of the Dutch league title and got them to the 2016-17 Europa League Final, which they lost to English side Manchester United. 

Bosz enjoyed a relatively successful playing career in the 80s and 90s, managing eight appearances for the Dutch national side as a central midfielder. He has some Bundesliga experience from his playing days as well, as he played 14 games for Hansa Rostock in the 1997-98 season. 

Prior to his successful stint with Ajax, he had spells managing clubs in Israel (Maccabi Tel Aviv) and other Dutch sides (Heracles, Vitesse).

Reportedly, since there is no buy-out clause in his contract with his previous club, Ajax receive €5 million for compensation in order to buy out his contract. It is a record buyout of a head coach for a German club, breaking the previous record of €4 million.