Bill Foley has told Bournemouth fans they will be 'active' in the January transfer window, as the club's new owner aims to keep them in the Premier League.
The 77-year-old American billionaire sat down with talkSPORT for an exclusive interview ahead of the Cherries' New Year's Eve clash against Crystal Palace, as he outlined his lofty ambitions for the club and plans to deliver a shiny new stadium.
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Foley has big plans for Bournemouth after his multi-million pound takeover
Gary O'Neil has been given the reins at Bournemouth and has been charged with keeping them in the top flight
Foley now owns 50.1 per cent of Bournemouth and is the club's new chairman after his Black Knight Football Club group bought the south coast outfit just before Christmas for £120million.
Creed and Black Panther star Michael B. Jordan and Nullah Sarker are also minority shareholders in the consortium, which has acted quickly by giving Gary O'Neil the manager's job on a permanent basis with focus now on their race to top flight survival.
Bournemouth go into Saturday's year-closing clash in a respectable 14th place, but in a miserable run of form of only one win from their last seven league matches.
The bottom three is perilously close with only three points separating the Cherries from the relegation zone, and all eyes will be on the upcoming transfer window as they look to strengthen their team for the battle to come.
Foley - who also owns National Hockey League [NHL] franchise the Vegas Golden Knights - insists business will be done, and that he isn't planning on hanging around until the final days to do it.
"We're going to be active, and we need to get active quickly," Foley told talkSPORT.
Foley paid a visit to the Vitality Stadium back in October ahead of his group's purchase of the club
"We need to make these adds [signings] because we have a great team, we're proud of where we are in terms of our position in the table, but we can do better and we need to acquire a few players and upgrade.
"You have to constantly upgrade - we do that with the hockey side, every year there is transition. It's done differently in hockey because it all happens at the end of the season, with unrestricted free agency and signings and so on, but it's similar to the transfer window.
"We always try to upgrade, that's all we want to do, is get better."
However, he remained coy on how many new faces fans can expect to see through the door, adding: "We're talking more than one!"
Asked where he sees Bournemouth in five years' time, Foley added: "Not at the top of the table, but we need to be sixth, seventh, eighth or ninth, that's where we need to end up being.
Bournemouth's results picked up under O'Neil and he has been trusted to steer the club clear of relegation
"We won't be going anywhere [this season]. We're going to stay where we are, and I'm very confident of that.
"We see the club as a big opportunity. We're in the Premier League and if we do things properly in terms of the transfer window, take care of our players and have a couple of signings that are currently under way, in progress or in negotiation, then we can stay in the Premier League comfortably and still have the capital to invest in the team and infrastructure which has not really happened at Bournemouth in the past."
Speaking on infrastructure, Foley also revealed his thoughts on the issue surrounding the club's stadium.
The Vitality Stadium is the smallest ground in the Premier League, with a capacity less than 12,000.
The current question facing the club's new ownership is whether to develop the current site, or start afresh with a brand new purpose built stadium.
And it's clear which gets Foley's vote, saying a new and improved home ground will be a benefit to the whole of Bournemouth, not just the Cherries.
Bournemouth's humble Vitality Stadium is the smallest in the Premier League
"We've got to do something with our stadium situation," said the American.
"Maybe the better approach is to understand how to develop a new stadium that is proper for a Premier League team, that is in that 22,000-24,000 seat range, that has the right hospitality assets - and I'm not just talking about suites - but realistically if the funds are available the new stadium is probably the best idea.
"A time scale? ASAP! But first we have to get the training facility built, get the players out of the current facility, that gives us the opportunity then to move the business operations over to the training facility, and once that happens we can really get under way in terms of development of the stadium.
"I just don't see why anyone would be opposed to having a great venue for not just our Premier League team but also for other community events, concerts, for all kinds of events.
"So I'd say we're leaning in that direction, but we haven't made a decision yet - I'm only ten or 12 days into this mission."
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