The former boss of the Italian national team was speaking at his introductory press conference and he outlined why he opted to join the club and his objectives for his spell there, pointing out that whilst returning to the Champions League was a target it would take time and patience.
"I chose to come to Valencia because it is a very interesting project and based on the club's mentality, I had to say yes," explained the 59-year-old.
"I am optimistic because the team is very good technically and has lots of room for improvement, I want to improve the side and this is a long-term project.
"My first objective is to find the balance that is currently missing from the team and to give the players a team spirit and to think as a team and not as individuals.
"We cannot live in a fantasy reality of how good we are, but we must make the best of the players that we have.
"We have a long-term target of returning to the Champions League.
"I want to transmit values of this club, its great succes, the mentality as I said before of Valencia.
"At this point in time my thoughts are not on any future market, but on the players we have right now - to build a compact team who are well organised and tough to break down.
"For me it is an honour to be at this great, historic and important club of which the fans are at the heart of, and they are vital for us."