NOTTINGHAM (AFP) - Sven-Göran Eriksson insists money is not the motivation for his new role as director of football at tiny League Two club Notts County.

Former England coach Eriksson has agreed a five-year contract worth a reported two million pounds (3.3 million dollars) a year to help County rise from the bottom division of English football to the Premier League.

The Swede's stunning move to the world's oldest football club has been funded by Munto Finance, a Middle East consortium backed by Dubai billionaire Abdullah Bin Saeed Al Thani.

But Eriksson, recently sacked as Mexico coach, was adamant that his salary wasn't the decisive factor in his arrival at Meadow Lane, although he will also be a shareholder in the club.

"If it was for the money I could have gone elsewhere easily for much more money. I am not here for the money, I am here for the challenge," Eriksson said at his first press conference on Wednesday.

"I'm not here for the weather or the city. If I want that I go to Italy or wherever. I am here for the big challenge. That is the truth.

"I know it is the oldest league club in the world. They were in the top division the year before the Premier League started. It hasn't been that good since then but we are here to change that. The dream is to be in the Premier League."

Eriksson was quick to dismiss suggestions that his commitment to County will be less than 100 percent.