Cantarero has been promoted from his rank as reserve team coach at the Spanish club and takes over from Alonso, who was dismissed on Monday.

"It didn't take me long to decide to take up the offer," said Cantarero.

"It is a very important step in my coaching career. Training Atletico is a privilege that is within reach of very few people."

He added: "But I am a realist and we can now only think of the next match and take the rest of the season step by step."

Alonso was sacked following a defeat last Saturday which left Second Division Atletico seven points off the promotion places.

They suffered relegation last term and went into the present campaign with the club's marketing department dubbing it as "just one year in hell".

Atletico president Jesus Gil said: "Bar a miracle we have said goodbye to promotion and to say anything else would only be fooling ourselves.

"From this moment on Atletico needs a fundamental restructuring."

He added: "This season has been one disaster after another. If I had had my way I would have sacked the coach long ago."