Notts County chief Sven Goran Eriksson has broke the bank to land Manchester City goalkeeper Kasper Schmeichel.

The Daily Mail says Eriksson has signed Schmeichel from his old club Manchester City in a club-record deal for Notts County.

The Meadow Lane director of football has snapped up the 22-year-old for an undisclosed fee believed to be in the region of £1.5million.

The son of Manchester United legend Peter joined City in November 2004 when he turned 18.

He played only two senior matches last season and has spent much of the last three seasons out on loan at various clubs.

Manager Ian McParland told the club's official website: "We're very pleased that Kasper has chosen to come to Meadow Lane.

"He is a significant part of the jigsaw puzzle we're trying to complete before the transfer window closes.

"We look forward to strengthening the team further in the next couple of weeks."

Schmeichel added: "I am very happy to sign with a club with such a long and rich history and such great support.

"I am joining a very ambitious team which is building for the future and it is a very exciting time for us. I'm looking forward to working with Ian and the rest of the lads, settling in and getting on with the season."

County's previous record signing was Tony Agana, who move from Sheffield United for £640,000 in 1991.