Bojinov has signed a four-year deal and becomes Eriksson’s fourth signing in 24 hours following yesterday’s captures of Javi Garrido, Vedran Corluka and Brazil midfielder Elano. He is Eriksson’s eighth signing since taking over as City boss just over a month ago.

The youngest foreign player ever to appear in Serie A, Bojinov’s career has stalled over the past two seasons.

After an unhappy spell at Fiorentina, the 21-year-old spent last season on loan at Juventus but failed to make enough of an impression to persuade new manager Claudio Ranieri to offer him a new contract.

His arrival at Eastlands draws a line under City’s transfer activity for this week at least and is also set to trigger a mass exodus of players, with Darius Vassell and Georgios Samaras among those likely to leave for pastures new.

In total, Eriksson has spent around £30million since succeeding Stuart Pearce as manager, with City fans set to get their first glimpse of their new-look side in tomorrow’s friendly with Valencia.

And, while club owner Thaksin Shinawatra has bankrolled Eriksson’s amazing splurge, the former Thai prime minister is realistic about the improvement he can expect over the next 12 months.

“This season, I feel we should be able to finish in the top 10,” he told the Manchester Evening News.

“The second season we should be aiming for the top six and qualifying for Europe. I accept the first year is a learning curve but we should start to be successful by the third. That is what I would expect.

“I am pleased with what Sven has done. He has set about reshaping the side and has handled both the existing players and the new ones very well. He has given everyone their chance.

“Sven has proved to be quite a draw when it comes to signing players. His name and reputation have proved to be valuable. There is more money to spend if he feels he needs it but we will not be held to ransom by other clubs.”