Birmingham manager Aitor Karanka will have money to spend following the £25m sale of Jude Bellingham to Borussia Dortmund, says CEO Xuandong Ren.
Birmingham retired the number 22 shirt following the 17-year-old's transfer to Germany.
Ren, who had approached Karanka to become Birmingham boss in the past, says the Spaniard will be able to do business in the market.
When asked about the Blues' Championship budget, he replied: "We will make reasonable deals."
Ren added: "Aitor (Karanka) was the correct decision when he turned us down before. That's why he chose us this time - he's got everything.
"I wouldn't have gone in again if I didn't believe in him. I was looking for the partner. We want to work together and have a teamwork.
"It's an important relationship, the most important. A lot of decisions will be made, tough decisions. To make the right ones we must work together.
"I'm excited, oh my god! I can't wait. We haven't won since February. I want to play tomorrow. I don't mind the short pre-season. Aitor's got three years on his contract."
Karanka, who replaced Pep Clotet last month, says he is full of energy and confidence after being out of work since January 2019.
The former Middlesbrough and Nottingham Forest manager says he wants to use his experience in the division to help Birmingham improve their league position.
The club have not finished above 17th since 2016.
"I want to say a thank you to the club for this opportunity," Karanka said. "I have been out of management for 18 months. I have been waiting for the right chance and I have found it in Birmingham City Football Club.
"I want the fans to know, that the players I send out on that pitch, will all be giving 150 per cent for this club. We are going to be a hard working side, we will do our best to get this club in the highest position possible.
"I have had conversations with the club and we have the same target. I have come here full of energy and full of confidence. Our aim is to take this club forward, we want to make decisions that are right for Birmingham City.
"The passion I see here made me want to come to the club. I see the ambition at Birmingham City. We want to make sure we bring the right players in to help us achieve what we want to achieve, players who understand what it means to play for this club."
Karanka will find out who his first match as Birmingham boss will be against when the EFL fixtures are announced on August 21.