No details of the length of the contract have been revealed, but the new deal means that the former Wolves and Southampton boss must give the club 12 months notice to leave his post.
He has also put aside a portion of his salary to buy shares in the club, taking his stake in the Coca-Cola Championship club up to around the £50,000 mark.
Copyright (c) PA Sport 2007, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms