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MILAN (AP) AC Milan dismissed manager Clarence Seedorf on Monday and replaced him with another club great, Filippo Inzaghi.

In a brief statement, Milan said it has handed youth-team coach Inzaghi a two-year contract until June 30, 2016.

"I am very happy, today for me is an unforgettable day," Inzaghi said. "I thank President (Silvio) Berlusconi and the whole club for their trust and the prestigious opportunity that has been given to me.

"I will give my all for these colors, with dedication, passion and determination, as I have always done whether as a player or as coach of the youth teams."

Seedorf, who was only four months into a 2 1/2 year contract, replaced the fired Massimiliano Allegri in January. The former Dutch star led Milan to an eighth-place finish in Serie A, with 11 wins in his 19 league matches in charge.

Despite an impressive first leg performance against Atletico Madrid in the Champions League last 16, Milan went out to the eventual runners-up 5-1 on aggregate.

The 40-year-old Inzaghi has long been touted as a future coach of Milan.

Like his former teammate Seedorf, Inzaghi has no previous first-team managerial experience. But the Italian has been coaching in the youth sectors at Milan since retiring in 2012 and has achieved impressive results.

Inzaghi had a glittering 11-year playing career at Milan, winning two Serie A titles to add to the one he won at Juventus and two Champions League trophies.

"I am honored and proud to be the coach of a team that has been my life for so many years, a team and a club with which I have shared unforgettable joy and emotions," Inzaghi added.

The former striker also won the World Cup with Italy in 2006.