Tony Kleanthous believes bringing Edgar Davids to Barnet indicates that the Bees are not a "dying club" but one which is "going places".
The Barnet chairman played a key role in Davids joining the Bees and the former Juventus and Tottenham Hotspur midfielder has been appointed joint head coach alongside Mark Robson.
Kleanthous acknowledges the Bees’ performances over the past three years haven’t been good enough but hopes the club can now grow sustainably.
He said: "I have spent 20 years trying to develop the club. In the last few years it has been about developing the training facilities and the Academy. What we haven’t been able to do is to invest in the team.
"But now those facilities are generating income which means that I can invest in the team. So bringing somebody like Edgar here makes a statement to everybody that we are not a dying football club, we are a club that is going places.
"The results haven’t been good this year, or the last three years, but that will turn and it is important they turn in a sustainable way.
"It is no good coming up but then going back down repeatedly. What we want is sustainable growth and that is happening now."
Davids, who has been capped 74 times by the Netherlands, is hopeful of making a return to first team action with the Bees and like many Barnet supporters, Kleanthous is excited at the possibility of a Champions League winner playing at Underhill.
He added: "I can’t wait. Can you imagine Edgar Davids in the Barnet shirt? It will be wonderful and I am looking forward to it."