Former Manchester United and Real Madrid striker Ruud van Nistelrooy was named Wednesday as new manager at Dutch powerhouses PSV Eindhoven, taking over from Roger Schmidt, who did not renew his contract.

Van Nistelrooy, who hung up his playing boots in 2012 after a final stint with Malaga in Spain's La Liga, has been coaching PSV's under-19 and under-21 squads for the past three seasons.

"It has always been my dream to be head coach at PSV," said the former striker, who netted 62 goals in the 67 matches he played for PSV between 1998 and 2001.

"This is the right moment to take the next step," the 45-year-old, who takes charge next season, said in a statement.

Van Nistelrooy, who also scored 35 goals in 70 games for the Netherlands, joined Frank de Boer's Dutch coaching staff as an assistant at the 2020 Euros.

He was also assistant coach of the Dutch national team from 2014 to 2016.

"We are delighted to confirm that Ruud van Nistelrooy is our new manager," said PSV director of football John de Jong.

"He is a strong, inspirational leader and his commitment and work ethic will be second to none."

PSV are currently in second place behind Ajax in the Dutch Eredivisie.

Meanwhile, Portuguese football media is reporting that Schmidt was close to signing a deal with Benfica, who earlier this month stunned Ajax with a last-minute goal to reach the Champions League quarter finals.