Harry Redknapp will stay on as manager of Southampton and lead their campaign for promotion back to the Premier League next season.
Redknapp, who made a controversial move from local rivals Portsmouth last December, failed to keep Southampton in the Premier League and had hinted that he would step down at the end of the season.
However, the former West Ham boss has undergone a change of heart and will lead Southampton in their attempt to return to the top flight.
“I couldn’t walk out on the club after last Sunday,” Redknapp told the club’s website.
“I’ve always said that this would be my last football job and I’m not going out on a low note.”
Southampton assistant manager Jim Smith has left the club, despite Redknapp staying on as boss.
Saints’ chairman Rupert Lowe said: “We are all sad that Jim will not be with us next season, particularly Harry.
“Jim did as much as he could to keep us up, but we are now in the Championship and we have to tighten our belts.”