West Ham United has unveiled Manuel Pellegrini as its new manager after the Chilean accepted a huge pay cut to leave Hebei China Fortune for the English Premier League club.

Former Manchester City boss Pellegrini will earn around $9.4 million a year with the Londoners, but was at around $13.5 million with Hebei.

Pellegrini, who has signed a three-year deal, joined Hebei in 2016 but failed to win any silverware with the Langfang-based side, which he leaves languishing in 10th position the Chinese Super League.

The 64-year-old, who helmed City to the Premier League title in 2014, succeeds David Moyes at London Stadium after the Scot was released at the end of his contract, having steered the Hammers away from relegation trouble and to a 13th-place Premier League finish.

"It was important that we appointed someone with knowledge and experience of the Premier League, who already has an understanding－not only of the teams and players we face－but of West Ham United and our ambitions," said West Ham co-owner David Sullivan of Pellegrini.

"Manuel brings a reputation for attacking football and getting the best out of his players."