"I am told there is money available in January but how much I don't know yet," the manager admitted.
"Before I get into lists of players in whom we might be interested I think it is vital to know what that spending figure will be. If we want to strengthen the squad then we have to be very clever about it.
"We must not buy average players. We have to buy top, top-class and for them to be better than we have already. That will cost a lot of money.
"We have to compete reputation wise with the big four who can offer Champions League football, but I am sure that we are one of the teams that foreign players are looking at and thinking: `I would like to play there.' And that is very good."
As I've mentioned previously, don't expect another glut of arrivals during the next transfer window, but Eriksson - perhaps feeling he is ahead of schedule in terms of progress, would no doubt love to add two or three genuine quality players to the club or what potentially could be a run at the Champions League, but certainly will be done with the aim of UEFA qualification.
He has been a savvy operator thus far in the transfer market, and I believe he knows the players he would like to bring in. With the start we have made, and if we are in a similar league position come the turn of the year, expect significant funds to be made available should Eriksson want it.
Interestingly though, for all the talk of the ten players or so Eriksson has brought into the club and that we needed a new team upon his arrival, there have only been four of his signings featuring on a regular basis - Garrido, Corluka, Petrov and of course Elano, with the remainder of the side made up of holdovers from the previous regime.