Birmingham City have appointed Lee Clark as their new manager.
Newcastle-born Clark, 39, was unveiled by last season's Championship play-off semi-finalists at St Andrew's.
Four months on from his shock
, Clark knows the size of the task that awaits him at financially-troubled Blues who are still under a transfer embargo.
"There are restrictions with the embargo but there's nothing been hidden from me," Clark told BBC WM.
Chris Hughton, who was subject to the same restrictions last season, before resigning earlier this month to take charge of Premier League Norwich City.
But, after two rounds of talks with Blues acting chairman Peter Pannu, Clark felt sufficiently reassured about the club's much-debated financial state.
And, despite the loss of Jordon Mutch to Cardiff City and the impending expected departure of Ben Foster to neighbours West Bromwich Albion, he is confident that his existing squad is good enough to compete.
Lee Clark factfile
- 1972 - Born Wallsend (26 October)
- 1988 - Hit a hat-trick for England schoolboys at Wembley
- 1990-97 Newcastle. Played 195 games, 23 goals, winning 11 England Under-21 caps
- 1997-99 Sunderland. 74 games, 16 goals
- 1999-2005 Fulham. 149 games, 20 goals
- 2005-06 Newcastle. 22 games, 1 goal
- June 2006. Became Newcastle coach under Glenn Roeder
- November 2007. Followed Roeder to Carrow Road to become Norwich City coach
- December 2008. Appointed manager of Huddersfield Town
- February 2012. Sacked by the Terriers, despite winning almost half his games in charge at the Galpharm
- Becomes the second former Wallsend Boys Club old boy to be appointed boss of Birmingham City, following in the footsteps of fellow Geordie Steve Bruce
And he reiterated Pannu's stance on Tuesday that it would take only "crazy bids" for Blues to lose either of their two main prize assets Nathan Redmond and England's third choice Euro 2012 keeper Jack Butland.
"After dialogue with Peter and the board, I know where I'm going. I feel very positive," added Clark, who will again be assisted by Terry McDermott and Derek Fazackerley, as he was at Huddersfield.
"I know the market but I know the ones I've already got are a fantastic group of players.
"I've got experience combined with a good crop of youngsters. And I'm looking to create the same atmosphere Chris Hughton had about the place.
"I'm hoping that we can carry on that momentum from last season and just get that little bit of luck you need to get over the line."
The former Newcastle United, Sunderland and Fulham midfielder was seen as a bright young managerial talent for most of his years in charge at the Galpharm Stadium.
After cutting his teeth in coaching under Glenn Roeder, first at Newcastle, then at Norwich, Clark brought in experienced duo McDermott and Fazackerley as his backroom team when he took over at Huddersfield.
He guided the Terriers to third place in League One in the 2010-11 season and, although they lost to Peterborough United in the play-off final,
he was rewarded with a new rolling contract.
They began last season in the same form, Clark's Terriers eventually extending their unbeaten league run to a record 43 matches between January and November 2011.
With his team still fourth in League One, eyebrows were raised when he was sacked in February following a 1-0 home defeat by Sheffield United.
But the change in leadership ultimately paid off as the Terriers went on to win promotion to the Championship in May.
Clark is set for an early season encounter with the Terriers, who are due to visit St Andrew's on 6 October.