Giovanni Trapattoni has signed a new contract with Ireland to coach them through the 2014 World Cup qualifying campaign, the Football Association of Ireland have announced.

The 72-year-old Italian and assistants Marco Tardelli and Fausto Rossi stay on after guiding the Irish to Euro 2012 qualification.

"On behalf of the FAI Board of management, we are very happy to agree a contract extension with Giovanni Trapattoni and his team of Marco Tardelli and Fausto Rossi," FAI chief executive John Delaney said in a statement.

"They have done fantastic work with the squad, bringing us to qualification for a major tournament for the first time in ten years, increasing our world ranking to 21st and introducing many new players for the future.

"Giovanni's experience, professionalism and achievement in qualifying for Euro 2012 has impressed everyone including the players and the FAI Board."

Reports claim the deal to be worth around €1.7m (£1.5m) a year to Trapattoni.

"I am very happy to continue my job with the FAI. I have always said that Marco and I believe very strongly in the work that we are doing to grow and develop the Irish team," Trapattoni said.

"It is a huge honour and a privilege to represent the Irish team and we look forward to continuing this important task."

The draw for the Euro 2012 competition will take place in Kiev on Friday.