Steven Gerrard signed a new deal with Al-Ettifaq to remain as coach until 2027 on Thursday, just moments after former Liverpool teammate Jordan Henderson left the Saudi club.
The 43-year-old Gerrard arrived at Al-Ettifaq last July on a two-year deal but his team are a modest eighth in the Pro League table, 28 points behind leaders Al-Hilal.
"This is very pleasing for myself and my family and feels like recognition for a lot of hard work and commitment," said former England captain Gerrard in a statement.
"We knew at the beginning this was a big job and a challenging job, but a lot has been achieved."
He added: "I also understand my position, it's a results business. I never take that for granted. I understand where we are in the league, but I am very confident we will improve."
Earlier Thursday, 33-year-old Henderson left Al-Ettifaq after only six months at the club to join faltering Dutch giants Ajax.
Henderson, like Gerrard a former Liverpool captain, was earning a reported £700,000 per week in the kingdom.
"We wanted an experienced midfielder with leadership qualities... Jordan Henderson is that type of player," said Ajax coach John van 't Schip in a statement.
"His arrival means a huge enhancement for our squad. Both on and off the pitch, a football player of this calibre is important for our many young players," he added.
Saad Allazeez, Vice Chairman and interim CEO of the SPL said the deal suited everyone to resolve ths situation.
"Sometimes despite best efforts people don’t always adjust or settle," said Allazeez.
"Everyone tried and no one is to blame," he added.
Henderson’s move to Saudi sparked accusations of hypocrisy given Henderson's outspoken support for the LGBT+ community.
Homosexuality is illegal in Saudi Arabia.
AFP