Eriksson believes he can lure Riquelme to City after being given the go-ahead by Thai owner Thaksin Shinawatra to spend again in January.
Eriksson: "The owner he is ambitious for us to progress. He wants us to be in Europe and he has told me money will be available to buy the players we need to take the club forward.
"But I only want to buy the right players to help us achieve that. I won't be in such a hurry next time and we are already identifying the players we want."