Massimo Cellino wants Leeds United to win promotion to the Premier League inside two years after the block on his takeover was overturned.
Cellino failed the Football League's owners and directors' test after being found guilty of not paying import duties on a boat by an Italian court.
However, an independent QC has now overturned the League's decision, seemingly clearing the way for Cellino, who also runs Serie A club Cagliari, to take charge at Elland Road.
Leeds have endured a disappointing season in the Championship, and sit 16th following Saturday's 1-0 loss at Wigan Athletic.
But Cellino, who purchased 75 per cent of the club's shares in February as his Eleonora Sport firm exchanged contracts with Gulf Finance House Capital, has lofty ambitions for the Yorkshire club.
"I don't want to make promises I can't keep and I admit it will be difficult to get promotion next season," Cellino told The Sun on Sunday.
"But in 2015-16 we will earn our way back to the Premier League, which is where Leeds belong.
"A lot of work needs to be done on the squad. We need new players. In the summer, we will buy some players. I want to focus on English and international players."
Cellino had been involved in a disagreement with GFH Capital over the responsibility for the club's running costs, including player wages.
The Italian's takeover ends fears that the club could slip into administration, and Cellino has pledged to pay all unpaid wages as well as repurchasing Elland Road and Leeds' Thorp Arch training ground.
He added: "Next week I will go to the bank and buy back Elland Road and Thorp Arch. And on Monday I will pay all the wages."
|Mexico v Cuba: Orozco promoted as Herrera targets minnows|
|Haiti deserved to draw - Collat|
|Trinidad and Tobago v Guatemala: Goals at a premium in Chicago|
|United States 2 Honduras 1: Dempsey´s brace secures victory|
|Dos Santos confirms Galaxy interest|
|Panama 1 Haiti 1: Former finalists stunned late|
|MLS All-Star XI|
|Milan receive new stadium go-ahead|
|Lampard welcomes ´perfect´ NYCFC challenge|
|Shamrock Rovers 3 Progres Niederkorn 0: Waters at the double|
|Gerrard keen to emulate ´hero´ Beckham at Galaxy|
|UEFA Champions League Review: Red Imps make history, TNS breeze through|
|Ameobi extends Newcastle deal and heads for Cardiff|
|U.S. women celebrate World Cup victory with LA rally|
|Atletico agree Vietto deal|
|Silva appointed Olympiacos head coach|
|Presidential candidates unsure of Turan´s Barca switch|
|Toure keen to bounce back from ´disappointing´ campaign|
|El Salvador v Canada: Floro targets Gold Cup learning curve|
|Juve complete Zaza swoop|
|Costa Rica v Jamaica: Borges confident Wanchope´s men are ready|
|Marseille snare Sarr|
|Italy coach Conte to stand trial in match-fixing case|
|Castan keen to repay Roma´s faith|
|Rami thrilled to reunite with ´best coach´ Emery at Sevilla|
|Lusitans v West Ham: Tomkins seeks to silence minnows|
|Kagawa shines as Dortmund hit six in Japan|
|Alonso tips Gerrard for Galaxy glory|
|Firmino seeks self-improvement with Liverpool|
|Buffon bids farewell to Pirlo|
|Sterling named Europe´s ´most valuable´ young player|
|Casillas´ agent reveals Porto offer|
|Southampton bring in Martina|
|Dundee United accept Celtic´s Ciftci bid|
|McArthur pens new Palace deal|
|Bartomeu rules out Barca move for Pogba this year|
|Spurs have to be better now - Bentaleb|
|Milner expects central role|
|Micronesia thrashed again, this time 46-0|
|Marchisio: I cannot be Pirlo´s heir|
|Inter aiming for Champions League return - Icardi|
|UEFA Europa League Preview: Brondby and Slovan to protect handsome leads|
|Bentaleb pens new long-term deal at Tottenham|
|Barca agree Turan deal|
|FIFA bans Mayne-Nicholls|
|United States v Honduras: Klinsmann demands improvement ahead of Gold Cup opener|
|CONCACAF institutes extensive reforms in wake of FIFA corruption scandal|
|Mauri completes Milan move|
|City sign Turkey striker|
|Women´s World Cup final draws huge US TV ratings|
|My first Chelsea team better than current crop - Drogba|
|Bertrand set for lay-off after knee surgery|
|New five-year Juve deal for Marchisio|
|Allegri extends Juve contract|
|Koeman reiterates Alderweireld interest|
|Valencia bag Bakkali|
|New York City FC complete Pirlo capture|
|Panama v Haiti: Collat ready to challenge the best of CONCACAF|
|UEFA Champions League Preview: Harrison eyes TNS progression|
|FIFA sanctions Yemen for fielding ineligible player|
|Toulouse rubbish Ben Yedder exit reports|
|Mourinho ´knows what he´s doing´ with Falcao signing|
|Watford shell out club-record fee for Capoue|
|Braafheid signs Lazio extension|
|Nani finalises Fenerbahce move|
|Liverpool confirm O´Driscoll appointment|
|Liverpool have to start better - Lucas|
|USA simply too good - Sasaki|
|Portland Timbers 1 San Jose Earthquakes 0: Jewsbury wins it in stoppage time|
|No move yet for Van Persie|
|Lloyd wins Golden Ball, Silver Boot awards|
|Mascherano: I never grabbed Banega|
|Dunga requested Brazil not appeal Neymar´s suspension|
|United States 5 Japan 2: Lloyd stars with hat-trick|
|Fiorentina deny Inter criticism|
|Nani relishing Fenerbahce opportunity|