West Ham want to break into the top four, says chairman Eggert Magnusson.
He said: "The club have ambitions and we want to break into the top four within the next few years and we have to invest money - it doesn't happen otherwise.
"Those are our ambitions and that we believe they are entirely realistic otherwise I would not be here.
The Icelandic businessman said he had complete faith in manager Alan Curbishley being the right man to take West Ham forward.
Magnusson said: "There is no question in my mind that he has got what it takes to get us to where we want to go.
"He is West Ham through and through but it's also a big challenge for him.
"He has come to a bigger club after many years at Charlton and he now has much more money to spend than ever before."
Magnusson admitted that the first season had been a roller-coaster.
The Icelander added: "Every morning there seemed to be something new to deal with.
"There was the Carlos Tevez business, the fight against relegation, it has been an ongoing battle but we are looking for a fresh new start with a new promising season.
"Staying in the Premier League was the best thing about it and the emotions were very special for sure. There is enormous excitement at West Ham now - and also back in Iceland - for the new season."