Everton's majority shareholder Farhad Moshiri has claimed that the club have "no restrictions" as far as spending is concerned in the January transfer window.

The Iranian billionaire revealed that he was unsuccessful when trying to bring in a number of targets during the summer window despite meeting asking prices, but vowed to back manager Ronald Koeman again when the market reopens in January.

Moshiri also promised the fans a new stadium as he looks to keep pace with the Premier League's top clubs.

"We have no restrictions to spend. 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," he told talkSPORT.

"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. I think the manager had seven names [during the summer], four of those we got. We tried to buy [Kalidou] Koulibaly of Napoli and they wanted £60m. It is monopoly money. We went right to the asking price and they decided not to sell.

"[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 was all ready to sign and Arsenal took him from us at the last minute. 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.

"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 are currently seventh in the Premier League table following their 5-0 drubbing at the hands of Chelsea on Saturday, eights points behind city rivals and league leaders Liverpool.