Jim Smith hopes new Portsmouth owner Dr Sulaiman Al Fahim puts his money where his mouth is.
Former Portsmouth manager Smith told The News: "It sounds fantastic, amazing.
"It's all very exciting and sounds like an unbelievable opportunity for the club. If you are a manager it's the sort of chance you dream of.
"Now everyone will be waiting to see the colour of their money."
The Bald Eagle added: "But I'm sure from a Portsmouth supporters' point of view they can't believe it.
"Portsmouth is an historic club, but this is an opportunity to turn Portsmouth into a major club now.
"They have that history, but with that finance they can now hopefully make it happen."