Salernitana will name Colantuono as new coach after the return of AC Milan legend Pippo Inzaghi fell through.
Fabio Liverani was axed and due to be replaced by his predecessor Inzaghi, but his demand to have a contract beyond the season was turned down.
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Instead, Colantuono will take charge to the end of the season.
And also arriving will be former Salernitana star Franck Ribery, who will be Colantuono's No2.