Sven Goran Eriksson has been offered £8 million to become new manager at Manchester City.

The Daily Mail says City's new majority shareholder Thaksin Shinawatra made the offer at a meeting in London on Tuesday.

If Eriksson accepts the challenge of leading the former Thai prime minister's assault on the Premiership, he will be guaranteed £2m a year for three years - with the possibility of an additional £2m in bonuses.

The deal would comfortably make Eriksson City's highest paid manager and equates to more than three times what his predecessor Stuart Pearce was earning at the club.