City £90m takeover is a bonus for Sven

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Bankers representing Thaksin will inform the Stock Exchange at lunchtime that the deal to take the club in to private ownership is complete.

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Calling in: Sven Goran Eriksson arrives at Manchester City's training ground

Eriksson is then expected to sign a three-year contract worth £2m a year - with the potential of a further £2m in bonuses.

Eriksson is the man to take Manchester City into a bright new era, according to a supporters group.

Eriksson has already reported to the Carrington training ground and the fans are excited about the prospect of what he can bring to Eastlands.

"I do believe that Sven is the right man to take us forward, " said Alex Channon, chairman of the long-established City Centenary Supporters Association.

"Despite what some say about him he does have a proven track record especially as a club manager and his England record is far better than many suggest.

"I believe that Sven will spend the money available to him wisely, he knows players and will only bring in players who will improve the team."

Channon added: "I have the utmost faith in (chairman) John Wardle who apart from being the current chairman is a City fanatic.

"He will only do what he thinks is best our club. I trust his judgement."