Thaksin will give Sven £150m and say: Buy the best

While Eriksson's England successor, Steve McClaren, battles for his international future, the Swede is embarking on what could be the most successful period of a 27-year managerial career that has included title victories in Sweden, Portugal and Italy.

The bulk of the spending will take place next summer and the club believe that no player will be considered out of their price range.

That could even lead to spectacular bids for the likes of Barcelona's South American pair Leo Messi and Ronaldinho, or Brazilian playmaker Kaka, of AC Milan, although nailing down such big names is another matter.

The first big target of the January transfer window will be Peter Crouch, a deal that would depend on whether or not his club, Liverpool, qualify for the knockout stages of the Champions League.

Eriksson is a huge admirer of the 6ft 7in striker, having given him his first England cap.

He sees Crouch as the perfect replacement for Italy forward Rolando Bianchi, an £8million flop since his arrival from Reggina during the summer and certain to return to his homeland.

Bianchi, 24, has not been able to live up to the promise of his openingday performance when he scored in the 2-0 victory at West Ham and he has struggled to command a first-team place.

Liverpool manager Rafael Benitez is aware that Crouch's aerial ability could be a key factor if his team make further progress in Europe. If they do not, he could well be surplus to requirements at Anfield.

Eriksson will use his wealth of experience and knowledge of the world football scene in an attempt to make the City of Manchester Stadium dressing-room the most powerful in the Premier League.

The Swede intends to provide the kind of challenge to neighbours Manchester United that City fans have scarcely been able to dream about.

The initial January flurry, with at least three highpriced players coming in, will be to ensure European qualification next season.

"There is no doubt Mr Thaksin means business," said a source close to the club.

"He wants the best for the team and its supporters and he is prepared to throw in fortunes to get it."