Former AC Milan midfielder Demetrio Albertini has said the club must spend wisely once their takeover is completed in March.
Milan are due to change hands on March 3, with Chinese investors acquiring the majority stake owned for the last 30 years by Silvio Berlusconi's Fininvest group.
Albertini said the club must learn from recent mistakes in the transfer market and invest wisely.
"Milan need the best," he told La Gazzetta dello Sport. "They need players of the highest order.
"I see that a lot of their recent signings are just sitting on the bench -- well, now they need first-teamers. Whoever arrives has got to be better than those who are already there.
"They need valuable players and not go-betweens. They can be young, just as long as they are good enough. [Gianluigi] Donnarumma is outstanding, for example.
"And if [Carlos] Bacca leaves, then they need somebody even better."
Fiorentina's Federico Bernardeschi and Sassuolo's Domenico Berardi have been linked with moves to Milan in the summer and Albertini backed both as potential signings.
He added: "Berlusconi wanted an all-Italian team right back when I was still playing -- he wanted a Milanese or Lombardic Milan.
"I like the idea because it gives you a feeling of belonging -- when I was in Spain, for example, I was the foreigner and I have to admit that I felt more detached -- but I still think you need foreigners to make a difference."
Manuel Locatelli, an 18-year-old midfielder born in nearby Lecco, has been likened to Albertini, but the 45-year-old said: "I don't like that game.
"We have similar stories -- both from the same area, young debutants, Milan fans -- but I hope he can continue playing with the free mind that youngsters have, gaining experience along the way. Let him follow his own path."