Southampton boss Mark Wotte has agreed to stay on in charge of the struggling south coast club.
Wotte, who took over from fellow Dutchman Jan Poortvliet in January but could not stop Saints sliding into League One, was out of contract at St Mary's but has now been asked to continue in the role.
Wotte said: "I am very happy to stay. I didn't want to leave while we are in such a difficult situation and I want to stick with the players and the staff at this great club and continue our preparations for life in League One."
Saints have also confirmed Michael Svensson, the popular former centre-half, will remain as Wotte's assistant.
The Matt Le Tissier-backed Pinnacle consortium who were bidding to take over the debt-ridden Saints were thought to want to appoint a new manager, but they pulled out of the running earlier this week.
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