Eriksson unveiled for City, Shinawatra increases stake

Manchester City's new owner Thaksin Shinawatra has increased his shareholding in the club to 74.03%, just marginally short of the 75% mark which he needs to de-list the company from the Stock Exchange.

Meanwhile, Sven-Goran Eriksson has been confirmed as Manchester City’s new manager.

The 59-year-old has signed a three-year contract.

“I am absolutely delighted and honoured to have been asked to be Manchester City’s manager,” he said.

“This is an exciting challenge and I have already started making preparations for the new season. I want to deliver a team that our fantastic fans can be proud of.”

Club chief executive Alistair Mackintosh said of the appointment: “I’m delighted that Sven-Goran Eriksson has agreed to join the club as we move into an exciting new era.

“Sven’s vast experience of managing top clubs to success around Europe is one of the qualities that attracted us to him.

“He also knows the English Premier League inside out during his time as national team manager.”

Eriksson revealed the lure of the Premier League had proved too great, having rejected other offers since leaving his role as coach of England.

“Manchester City is a big, big football club. It is the Premier League – I think it is the best league in the world and if you get an opportunity to work in it you should take it and I did,” said the Swede.

“I had some offers in the past – one year out of football some offers were bound to come in – but I am happy I didn’t accept them.

“I couldn’t care less if I was second, third of fourth choice (to be City’s manager), I am here and the job is mine.”

Eriksson said he did not feel any additional pressure despite the torrid time he had been given during his time as England coach.

“I have never worked in the Premier League before so I don’t know if I have to prove or not,” he added.

“I know what I have done in the past and I am looking forward to an exciting job and an exciting season.

“I don’t think I will change (his attitude) a lot. A lot has been written about me – some fair, other maybe not fair but I will not read all of it.

“I am here trying to do a good job for Manchester City and I hope I will be judged on that positively – or negatively if things are not going quite so well.”