Elstone believes that, following a settling in period for majority shareholder Farhad Moshiri, Everton are now in a strong position to begin challenging for big-name arrivals in the coming months.
"It is a really important, big summer for us and the club will continue to make big investments, the squad will continue to grow and improve and it will be a very busy and exciting summer for Everton fans," he told the Liverpool Echo. "Looking back at the last summer transfer window, the transfer window changed enormously.
"Transfer fees went through the roof and wages went through the roof and I think more of the same will happen. What we've got to do is operate in that window as we always have done, looking out for best value and being as good as we can in terms of negotiating and getting the best bang for our buck in that sense.
"A lot of fans have been thinking there's been a pivotal moment, Mr Moshiri joining the club was a special moment but that ambition has always been there ever since I've been at Everton. Every single penny we've had has gone into creating and developing and putting the best 11 players on the pitch.
"What has happened across the whole of the Premier League is that we've got an amazing new TV deal Which means that every single club is considerably better off and undoubtedly with Mr Moshiri standing behind us and providing funds is giving us that extra confidence. The strategy has always been there, the ambition has always been there, finally we're getting the wherewithal to live up to that."