Sven-Goran Eriksson has been named as Leicester City’s new manager, the ex-England boss replacing Paulo Sousa (Leicester 66/1 to win Championship title).
Sousa was sacked on Friday with the Foxes languishing at the bottom of the Championship after nine games.
Eriksson, 62, has signed a two-year deal at the Walkers Stadium.
“I am very happy to be here. The club wants to be in the Premier League and I do as well. That is the clear target,” he said at a news conference.
Eriksson watched from the directors’ box at on Saturday as City beat Scunthorpe 3-1 on Saturday but had refused to talk to the media.
But on Sunday, at the press conference to announce his appointment, he said: “I think the ambition of the club is fantastic. If they did not have ambition then I would not be interested.”
Eriksson had been out of work since managing the Ivory Coast at this summer’s World Cup in South Africa, where they failed to reach the knock-out stages.
The Swede was director of football at Notts County for seven months, having previously managed Mexico between June 2008 and April 2009.
Leicester (14/1 to be promoted), who were recently taken over by a Thai consortium, reached the play-off semi-finals last season under Nigel Pearson.
But Pearson left to manage Hull, and when Sousa was sacked it left the club seeking their seventh manager since former Portsmouth owner Milan Mandaric took over in 2007.
On the back of taking Swansea to the brink of the Championship play-offs last season, former Portugal international Sousa was recruited by Mandaric.
But he oversaw a woeful start to the season, with only five points gathered from Leicester’s first nine league matches.
The manager’s fate was sealed by a 6-1 league defeat by Pompey, followed by a 4-3 loss at Norwich.
Eriksson said: “Leicester is a club with a rich heritage and is a proud sporting city.
“I hope that together we can look forward to adding to that history with the accomplishments I plan to make.”
Eriksson’s first game will be against the Thailand national team next Saturday before his first competitive match on October 16 when Pearson brings Hull City to the Walkers Stadium.
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