Former England manager Sven-Goran Eriksson has rejected an offer from a major European club, as he wants to join a club with money to spend on new players.

Eriksson, now coming in for heavy criticism for his handling of the England team, is keen to find a new position sooner rather than later, according to his agent Athole Still.

Still told BBC Radio Five Live's Sportsweek: "It would be unfair of me to name the club, but we have already turned down an extremely good offer from a Champions League club.

"It was not in this country. I'm afraid I cannot say which club because it would be embarrassing to the club concerned.

"He will go to any club, or indeed national team, where he feels there is real ambition and the real possibility of doing something.

"Naturally nowadays, you need a certain amount of money if you are going to compete at the top level.

"So, he would only go to a club which had a reasonable basis of players already there and a reasonable amount of money to strengthen the squad, so that he feels he could challenge for titles, because that's what he's really interested in."