Milan Mandaric today marked Portsmouth's promotion to the Premiership by pledging he wants to remain as chairman and bankroll both the club's transfer activity this summer and the building of a new stadium.

The Serb hinted earlier this year he could quit in the summer - but has now given the strongest indication yet he will stay.

Mandaric's millions have given boss Harry Redknapp licence to continue his trademark wheeling and dealing in the transfer market.

And the chairman will make more cash available to recruit players and step up the building of a new home as Pompey prepare for life in the top flight.

"It's great to be the chairman of a Premiership club but my goal has been to deliver the dream to the people of Portsmouth.

"I do want to stay with the club as there are improvements to be made. I want to establish Portsmouth as a Premiership club and finish the stadium project.

"But our goal really is to stay in the Premiership and get the 40 points we need to stay up.

"With the team we have and with the addition of a few players, hopefully we will be able to do that."

Former West Ham manager Redknapp, pictured, is determined to make an impact in English football's elite once again.

"If I think too much about next season I will be scared stiff," he said. "When you look at the quality of players West Ham have, it makes you realise what hard work we have ahead of us next year.

"West Ham have struggled this year, but that's what scares me."

Redknapp will be heartened by Mandaric's comments today that he will fund a "few new players".

"I don't know if we will go into the market to spend too much money," Redknapp said.

"But the group of lads I have will be given every chance because they deserve it."

Saints chairman Rupert Lowe, meanwhile, has offered his congratulations to Pompey.

"I'm delighted for Portsmouth. I'm pleased they've done well and we look forward to meeting them twice next season," he said.

"Portsmouth getting promoted is good news and shows football on the south coast is alive and well."

The last time Saints met Pompey in league action was back in 1987-88.