City close in on Eriksson

It is understood the 59-year-old Swede is the preferred choice of the club's potential owner Thaksin Shinawatra and the former Thai prime minister, who has a controlling interest in City, hopes to have the new man in place in the next week after admitting he has spoken to Eriksson.

Thaksin told Sky Sports News: "I have advisors working on the new manager and they inform me from time to time - I leave this to my professionals. Sven-Goran Eriksson is one of the names that my advisor told me about. He has a very good reputation and he is a very capable coach. I've met him once - probably last week maybe."

Eriksson is keen to return to work after a year-long absence from the game following England's quarter-final exit from the World Cup last summer.

Thaksin added: "I had my advisor talk to him and just say 'hello' and touch base. I didn't talk to him [Eriksson] that long because my advisor did that interview.

"Nobody's perfect but as long as he can do the job and likes the job and is fit for it, and my advisors say this is the man, then I'll support it. I can't say anything until next week. I hope to have a manager. After I have more than 75% (of the shareholding), I can decide on many important issues."

Thaksin has made a formal £81.6million bid for the club and the board are recommending shareholders to accept it.

He has been pledged a 55.9% stake through irrevocable undertakings - shares owned by members of the board and former chairman Francis Lee.

And a transfer kitty, believed to be about £50million, will be made available for Stuart Pearce's successor.

Thaksin said: "I will bring some equity and capital to the club so they can invest more on players and other infrastructure if this is necessary."