Leicester City owner Vichai Srivaddhanaprabha has pledged to invest more than £180 million over three years to turn them into a top-five club in the Premier League.
The City chairman, pictured, spoke to the media in Bangkok during the club's week-long stay in Thailand.
He stated the first priority was for City to establish themselves in the Premier League after clinching a return to the top flight for the first time in 10 years, but then he hoped they would be challenging for a top-five place in three years' time.
"We want to stay in the Premier League as long as possible," he told reporters after the team had a three-day stay in the Thai holiday destination of Phuket.
"But we won't take the huge leap to challenge the league's top five clubs immediately.
"Do we have a chance to beat them? Yes, we have, but I think we need to establish our foothold in the league first and then we think about our next step.
"It will take a huge amount of money, possibly 10 billion Thai Baht (just under £182m), to get there.
"But that doesn't put us off. I am asking for three years, and we'll be there.
"It will be a difficult task but we have to try to do it.
"Playing in the Premier League will be another challenging task for the team and the players, but we have plans."
Vichai said he chose to take over City in 2010 because of the challenge of taking a Championship club into the Premier League.
"After spending time studying many clubs, I fell in love with Leicester," he said.
"One reason was the team's colours, which were the same as my company's.
"The other was the fact they were playing in the second tier at the time. I thought if we bought a Premier League club, it wouldn't be challenging enough.
"If we could lead this team to the Premier League, then that would be a real challenge."
