Ronald Koeman will be given freedom to invest substantially in the playing staff as Everton seek to compete with the Premier League elite.
That was the pledge offered on Monday by the club's majority shareholder, Farhad Moshiri, who backed the "ruthless" Dutchman to achieve big things on Merseyside.
"We have no restrictions to spend," Moshiri 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."
British-Iranian businessman Moshiri, who owns a 49.9 per cent stake in the club, recognises the size of the task facing the Toffees and cited the appointment of Koeman as key to their objectives, while talking up the need for a larger stadium.
"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."
Everton's season has faltered after a promising start, with just one win from their last six top-flight games, while they were thrashed 5-0 at Chelsea last time out.