Sven Goran Eriksson has waived his right to £2.4 million as a farewell gesture to Notts County.

The former England head coach, who announced his departure from the club on Thursday, has 4½ years remaining on his contract as director of football at Meadow Lane. However, the Swede has decided not to pursue any legal entitlement to a high level of compensation.

He said yesterday: "Time was short for us and in the end I signed the agreement to leave the club because the alternative would maybe have been for the club to disappear. I don't want to be the man to take Notts County into administration, that's why I signed the agreement yesterday."