Neil Warnock will remain as Cardiff City manager and seek an immediate return to the Premier League, chairman Mehmet Dalman has confirmed.
Dalman and chief executive Ken Choo have held "positive" talks over a transfer budget with Warnock, 70.
Owner Vincent Tan had said he wanted Warnock to remain and seek a record ninth promotion.
"He is the best man for the job, there was never any doubt in my mind," said Dalman.
Warnock has a year left on his deal but there was speculation he might leave following relegation after one season in the Premier League.
He had sought assurances over a budget to buy the "two or three" players he believes is required for a tilt at another promotion.
Warnock says otherwise he does not foresee major changes while hoping to play his part in finding a successor as manager.
"You don't change things for the sake of it," Warnock told BBC Radio Wales Breakfast.
"We've got a very good squad and I think in the Championship the lads that we've got know what it's all about.
"We know how difficult it is. We'll all know by Christmas if we've got a chance really [of promotion].
"We've obviously got to look for a replacement for me now and I would like to think that we could do well and I could probably help them in that selection, but at the end of the day it's the owner who selects that.
"I want to go out on a high and I'll be doing my utmost to reward all the good things that the fans have done for me in the last 12 months, not just the last two weeks."
Dalman added: "We all share the same vision. We will give it [promotion] another go."
Warnock is now expected to move quickly to enhance his squad following the departure of Iceland midfielder Aron Gunnarsson and loan players Harry Arter and Victor Camarasa.
The manager is credited with transforming the club's fortunes following his arrival in October 2016.
However, he is unlikely to stay if he does gain an unprecedented ninth promotion.
Asked if he'd manage in the Premier League again following Cardiff's 2-0 final day win against Manchester United at Old Trafford, Warnock replied: "Not a cat in hell's chance."