Graham Potter has signed the contract which confirms him as the new West Ham United manager, Sky Sports News has been told.
West Ham have called a press conference for 9am on Thursday morning at the London Stadium.
Potter - who could take charge of a tough FA Cup third-round trip to Aston Villa on Friday - is set to return to management 20 months since he was sacked by Chelsea just seven months and 31 matches into a five-year contract.
The time is right for Potter
Sky Sports News' Kaveh Solhekol:
"He was waiting for West Ham to do what they have done and parted ways with Lopetegui.
"The timing works for both. West Ham need a bit of stability right now. It's a good fit because Graham Potter wants a project. He's ready to get back into mangement.
"I think the owners and fans will like his brand of football, the fact that he promotes youth, the fact he likes a progressive style.
"But can he get that instant success? Five of their next seven Premier League matches are London derbies - and in the middle of those is a return to Stamford Bridge."
'Sporting director Steidten will be under scrutiny'
Sky Sports News reporter Dharmesh Sheth:
"I think there will be quite a lot of eyeballs on sporting director Tim Steidten.
"Julen Lopetegui was the unanimous choice among the board to take over as West Ham manager; if you speak to some fans, they felt a little bit underwhelmed by the appointment. Now he's gone, you'd think there's going to be a bit of pressure on Steidten.
"They spent over £100m in the summer, and he was central to that recruitment. By definition, because Lopetegui has gone, you can almost call those first few weeks a bit of a failure and what they looked like in the transfer window.
"Looking ahead to this transfer window, I think it's going to be really interesting to see the kind of deals West Ham do and even more scrutiny on their sporting director."
January 10: Aston Villa (a), FA Cup, kick-off 8pm
January 14: Fulham (h), Premier League, kick-off 7.30pm
January 18: Crystal Palace (h), Premier League, kick-off 3pm
January 26: Aston Villa (a), Premier League, live on Sky Sports, kick-off 4.30pm
February 3: Chelsea (a), Premier League, live on Sky Sports, kick-off 8pm
