David Gold has revealed he and fellow West Ham co-owner David Sullivan will "push the boat out" and dip into their own pockets to buy the "quality" players which he believes are required to keep the club in the Barclays Premier League.
The millionaire duo gave Hammers boss Gianfranco Zola funds to buy the likes of Benni McCarthy, Ilan and Mido soon after completing a £50million takeover in January.
"If there are quality players that we fancy then we'll push the boat out to get them," Gold said.
"We're an ambitious football club and it's time we turned the tide and started pushing forward. We will be looking to bring in some new players."
The club were heading towards administration with debts of around £110million before Gold and Sullivan took over from Icelandic bank Straumur at Upton Park in January. Of that debt around £50million is owed to banks and £40million to other clubs for transfer fees.
The duo embarked upon a radical cost-cutting venture to try to cut the club's debts and they have even been paying vice-chairman Karren Brady out of their own pockets for the last three months.
Gold insists any move to sign new players will jeopardise their long-term aim of getting the Hammers out of the red though.
"There will be money available but we won't put the club at risk. We will not increase the debt at West Ham. Our job is to reduce the debt and at the same time to improve and deal with the squad. If that means we have to put some money in then that's what we'll do."
The club have already had a £4million bid for Graham Dorrans rejected by West Brom. Gold, who insisted Zola was part of the decision to make a move for the Scotland midfielder, admits the club could return with a second bid for the player.
"A second bid is possible. He is one of the players we are looking at," said the 73-year-old. "We'll have to wait and see what happens on that. The player is a favourite of mine."
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