The former England manager was today presented to the world's media at the club's Meadow Lane ground following his appointment as director of football at the Coca-Cola League Two club. Eriksson has received huge pay-offs upon leaving his last three positions with England, Manchester City and Mexico, and insists he had more lucrative, high-profile offers from elsewhere.

County, the world's oldest professional club, avoided relegation to the Blue Square Premier in May but last week's takeover by Munto Finance, who are backed by a Middle Eastern consortium, has changed everything.

The Magpies have set a target of playing Championship football within five years before an assault on reaching the Premier League.

And Eriksson insists the challenge was irresistible.

He said: "It's great to come back to England, the weather is the same, as usual the press is the same, but I didn't expect anything else.

"I always said that I wanted to come back to the Premier League because it is the best league in the world - I chose a little bit of a difficult way to do it.

"It will take some years but I'm sure, talking to (executive chairman) Pete (Trembling) and the investors, we will do it.

"That's why I'm sitting here, I think it's maybe the biggest football challenge of my life to try to take, together with all the people, Notts County to the Premier League.

"That's the target and that's why I'm here - the challenge.

"It's maybe the most difficult football job I've had so far. But I'm looking forward to it and I'm very, very happy to be here."

Responding to suggestions he has taken the job for the money, he added: "I have signed a contract first of all, secondly, if it was for the money then I could have gone elsewhere easily for much, much, much more money.

"But I'm not here for the money, I'm here for the challenge."

Eriksson, who has penned a five-year deal and will live in Nottingham, has been joined by long-term assistant Tord Grip, who will take up the role of general advisor.

He will also work closely with current first-team manager Ian McParland.

But Eriksson's direct roles will include transfer negotiations and scouting, player development, establishing links within the community and with overseas clubs, the youth academy, training facilities and the health and fitness of County's players.

The 61-year-old will certainly have his hands full, as well as becoming a shareholder in the club.

But Eriksson admitted the chance to work in England's bottom tier did not appeal to him straight away.

"When my agent Athole Still first asked me if I would be interested in Notts County I said 'I'm not sure about that', but after listening to the people and seeing the project they have, I became interested," he said.

"I don't know the players here, I don't know the players in League Two at all, but I asked Ian (McParland) what we need to go further.

"The target is to reach the Premier League - for the club, for the fans, for everyone."