Atletico Madrid have parted company with coach Abel Resino after their poor start to the season, the La Liga club confirmed on Friday.
Smith, who developed a reputation for playing exciting, attacking football at Brentford, is a Villa fan and will replace Steve Bruce, who was sacked last week following the second tier side's dismal start to the season.
Barcelona could be without captain Andres Iniesta for the rest of the year after the midfielder sustained a knee injury in an eventful 3-2 La Liga win for the leaders at Valencia on Saturday.
Outgoing Valencia coach Cesare Prandelli was fiercely criticised on Saturday for 'giving up' on the ailing Spanish giants and for looking for excuses to walk out on the team as they hover above the relegation zone.