Australian FA chairman Frank Lowy, who announced the agreement of a television broadcast deal as a "bloody good day", has gone one better to describe the appointment of Socceroos coach Ange Postecoglou as a "bloody, bloody good day", reports The Age.

After finally thrashing out a five-year deal, the 83-year-old also handed the former Melbourne Victory manager the objective of building the most dominant team in the Asian region.

Speaking at the public unveiling of Postecoglou in Sydney, Lowy feels the current Australian side have reached a stage when only the best is enough, translating to heightened expectations on both the continental and international stages.

"The objective is definitely to be the number one team in Asia; There is no question about it," he declared.

"We have the knowledge, the ability and players, and now we have the coach. The rest is that we want to do better than we did in the past [at the World Cup], but that may take a little bit more time."

After only tasting patchy success under previous overseas managers including German Holger Osieck and Dutchman Pim Verbeek, Lowy made it no secret he wanted to see local talent take the reigns of the national side at the next World Cup and beyond.

"In the past 10 years, we've had coaches from overseas, and that was the time for it then, and now is the time for an Australian coach.

"It was our ambition for some time now to appoint to an Australian to the position of head coach, but not just any Australian, we wanted a good coach. Now we happen to have one," he said.

"We are looking forward to a long service from him, until the World Cup in Russia. We have the faith in him and we know he's a good guy, he's the right person for us at this stage in our development."

Postecoglou is one of the most successful managers Down Under, but for those abroad who aren't familiar with his name, he coached the A-League All Stars side and Melbourne Victory against Liverpool and Manchester United during a week of landmark friendly matches in Australia last summer.

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