Leicester City owners give Sven 'no limit' on transfer kitty
Sven-Goran Eriksson says he has been given no limit on what he can spend this summer to build a squad capable of getting Leicester City into the Premier League next season.
The City boss said he had the full backing of the club's Thai Owners, King Power, but said he would not be spending silly money on potential transfer targets.
City chairman Vichai Raksriaksorn and vice-chairman Top Raksriaksorn say they want promotion next season and Eriksson, who has one season left on his contract, knows he must deliver.
However, he said he would use his common sense in the transfer market to get the right players at the right price.
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"There is no limit at all – they want Premier League and that is it," said the City boss.
"They are very clear. The target they have the plans they have are the same.
"I hope they back me every time, as long as I don't go over the top. It is common sense.
"If we were a Premier League club we would have much more money and you can't get very good Premier League players to come to the Championship, so we have to look everywhere for targets."
Eriksson has already started to put in phone calls in search of his new recruits and has contacted Chelsea over the availability of loan duo Patrick Van Aanholt and Jeff Bruma, and will contact Manchester City over Ben Mee.
He is also weighing up whether to make offers to free agent Diomansy Kamara and to Everton for Yakubu.
Eriksson is also set to contact Benfica to check the availability of Miguel Vitor, and top of his list is a bid to get Kyle Naughton permanently from Tottenham Hotspur. However, the right-back's impressive performances during his season-long loan at the Walkers Stadium has alerted Premier League clubs.
Despite the focus being on immediate promotion, Eriksson said he also wants to sign players for development.
"As a club we have to think long-term as well," he added. "Long-term for this club is Premier League and staying there.
"We need players who are ready now and ones for the future. If you want players now who can make the squad stronger, they must be proven players.
"Then we have our own players like Jeff Schlupp. It will be very interesting to see him in pre-season. He is a long term investment of the club."
City defender Sol Bamba is reportedly being courted by at least three Premier League clubs.
Aston Villa, Everton and Birmingham City are said to view the 26-year-old centre-back as the ideal man to provide defensive cover.
City will not comment on speculation surrounding their players.
Bamba has been a huge hit since joining City from Hibernian in a £250,000 deal in January.