Everton chief says Ronald Koeman has 'no restrictions' to spending
Everton's majority shareholder Farhad Moshiri will back "ruthless" manager Ronald Koeman in the transfer market while trying to improve things off the pitch himself.
The Iranian billionaire, a 49.9 per cent stakeholder, is pushing ahead with plans for a new stadium which "rewards the loyalty and passion of fans".
Moshiri stressed the only way the club could compete in the "new Hollywood of football" which is England's north west was to improve commercial income but insisted in the meantime Koeman would get what he wanted to build the squad.
"We have no restrictions to spend," he told talkSPORT.
"The manager is totally committed and ruthless; if a player is not up to it he uses another player and eventually he buys one.
"There are no sentimental issues there. The manager will strengthen the team in the areas he feels necessary.
"Koeman is Koeman: he does what he wants and I support him.
"I think the job of an owner and chairman is simply to hire and fire the manager, the rest is down to him.
"Once we hire a manager we back him. He has the personality, aura and ability and we trust him. In Everton's culture the manger is the most important individual.
"He achieved eighth and seventh with Southampton. He needs to improve on that but it is a very difficult landscape now."
Everton did their best to back Koeman in the summer window but despite coming up with the cash - helped by the £47.5million sale of John Stones to Manchester City - they found it difficult to bring in top-class stars.
"I think the manager had seven names, four of those we got," added Moshiri.
"We tried to buy (Kalidou) Koulibaly of Napoli and they wanted £60million.
"It is monopoly money. We went right to the asking price and they decided not to sell.
"He (Koeman) wanted a box-to-box midfielder and we matched (Moussa) Sissoko's asking price and actually paid more and all the terms were agreed and just before midnight we realised he had changed his mind.
"Lucas Perez (Deportivo La Coruna's forward) was all ready to sign and Arsenal took him from us at the last minute."
Moshiri knows the only way Everton can hope to compete with the Premier League's top sides is by spending more money but in order to do that they have to bring in more revenue, hence the need to move away from Goodison Park.
Potential sites at Bramley Moore Dock in the city centre and Stonebridge Cross in Croxteth have been identified and Moshiri claims he knows which one he prefers and he has made it his priority to bring it to fruition after several failed attempts in the past.
"For our club to compete in the north west of England, which is the new Hollywood of football with (Pep) Guardiola, (Jose) Mourinho, (Jurgen) Klopp, we needed a star to stand on the touchline so I got Koeman," he added.
"We needed a strong balance sheet so I paid off the debts. We are now very flexible financially.
"We need a big stadium, no question about it. We have done the hard bit because the club was restricted to move or expand Goodison by banking covenants but I have paid the debts so we are free to do what we want and we have the finances to do it.
"The club has taken something from the fans and in our minds we know where to go and we are committed.
"I can reassure them they will have a stadium which rewards their loyalty and passionate support for our club. This is my key aim."