Nigel Pearson walked back into Leicester City with his 'eyes wide open' as the price of failure was spelled out in unequivocal terms at the King Power Stadium.

'My ambitions remain,' said chairman Vichai Raksriaksorn about Sven Goran Eriksson's successor, 'I want Premier League football- and I will do everything I can to get there.'

That included handing over ?675,000 to secure Pearson's services from Hull City who also lost Craig Shakespeare and chief scout Steve Walsh from the KC Stadium as part of the deal.

Looking forward: Nigel Pearson is targeting a return to the Premier League

Pearson, who returned to the east Midlands after a hugely-successful two year spell with the Foxes, said he was clear as to the brief.

Eriksson was sacked following a 3-0 home defeat to Millwall. Nevertheless at the time, the Foxes lay just two points from the play-off places. The Swede had spent ?10million bringing in 12 players during the summer yet lasted little more than twomonths into the new season.

'There's very little honeymoon periodfor anyone these days,' said Pearson. 'And I don't expect one. I've gotto hit the ground running. I need to prove I can take this club forwardand that ultimately means results and promotion.

Familiar surrounds: Pearson returns to Leicester for his second stint as boss

'I know how keen the board is to takethe club to the next level. Whether or not I think I can achieve it should be answered by the fact that I'm sat here.'

Pearson smiled at the suggestion thathe had 'unfinished business' though he certainly could be forgiven for smiling at the irony.

He engineered promotion from League One at the first time of asking during his first spell in charge of the club. He then followed it by reaching the Championship play-offs, parting company with the Foxes after then chairman Milan Mandaric courted Paulo Sousa as his replacement.

Team effort: Leicester's vice-chairman, Aiyawatt Raksriaksorn, Pearson and chief executive Susan Whelan pose

However, it is a very different Leicester City now to the one he left behind. The Thai owners backed Eriksson but were swift to wield the axe early in the season. The pressure to deliver remains oppressing.

'I think I'm right in saying that theaverage tenure now for a manager in the Championship is ten-and-a-half months,' added Pearson.

'It's quite alarming the number of managers who lose their jobs. What I need to do is prove I can take thisclub forward. That means, achieving promotion.

'That's the sort of pressure and conditions I have to work under. I'm well aware of it and myself and my backroom team expect to be successful here.

'I'm prepared to back myself. I like positive pressure and the fact that expectations are high does not faze me.'

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Source: Daily Mail