"We will probably spend more money in this window than we've spent in any window in the past," Gold told talkSPORT.
That alone would be next level spending for West Ham, but Pellegrini - who has been trusted by clubs throughout his career to reshape squads with big money - could come close to doubling that figure with some expected sales in the transfer market.
Gold told talkSPORT any money raised from player sales will be given to the 64-year-old former Manchester City boss as additional funds: "You can't put a figure on it because you don't know which players are going to leave and that will add to the kitty."
And assessing West Ham's squad a realistic total with some shrewd sales of non-essential players could raise enough to double his spending power.
If Pellegrini means business at West Ham then he's got to do business with a clearout of players who are ageing, unfancied, injury-prone or simply not good enough.
And here is how he could raise around £64 million from shipping out eight players.
Injury-prone defender is top quality when fit. But that's the problem he rarely is. West Ham should still be able to raise at least £10 million for his services.
Young defender has had his chance to shine for his boyhood club and impressed supporters. But he continues to be farmed out on loan and the emergence of Declan Rice could well spell the end of his time with West Ham. A big promising young English centre back, Burke could command a fee of around £7 million and would interest a host of Championship sides.
It just hasn't happened for former Leeds United defender Byram at West Ham. The right back turns 25 next season and has played just 27 times for West Ham in two injury-hit years. Has impressed in bursts but struggles for confidence and consistency. Again another player that would have his pick of Championship clubs with a resale value of at least £5 million.
If last season proved one thing it is that Kouyate has had his day with West Ham. Once the thumping heartbeat of the team, his performances last season were among the worst from any of West Ham's underperforming rabble. Kouyate has quality, though, and is very versatile so should recoup at least £10 million if sold given the likes of Spurs and Liverpool were interested in him in the past.
West Ham fans love a young homegrown talent coming through the Academy into the first team and Josh Cullen is a very tidy and efficient footballer. But from the glimpses West Ham have had of him so far it is hard to make a case for him being a key player to drive the club forward in the future. After a hugely successful loan spell with Bradford, Championship clubs would be interested at around £4-5 million.
Another player who saw his big move to West Ham flop, Snodgrass has impressed on loan in the Championship with Aston Villa. He looks certain to be sold in the summer and the Hammers will do well to recoup around £7 million of the £10m they paid for his services just over a year ago.
Yes everyone loves Andy Carroll and yes when he is fully fit he offers a threat unlike anyone else in the Premier League or indeed Europe. But like Winston Reid he rarely is and on a reported £90,000 per week West Ham cannot continue to rely on him. Carroll scored just three goals last season, and has only 33 in six years at the club. It is time to move on with younger, more dynamic forwards and make some money back on the striker before he is available on a free transfer at the end of next season. With the going-rate for proven strikers through the roof West Ham could make up to £15 million back.
In what will surely rank as one of the most bizarre transfers in West Ham's history, David Moyes paid Preston £8 million for former barman Jordan Hugill back in January. The move came off the back of Hugill's 10 goal spurt for North End in the first half of last season. But he barely managed 10 minutes of first team action for the Hammers and will surely be offloaded to a Championship club this summer at a loss with £6 million looking a realistic sale value.