Andre Villas-Boas has told Roman Abramovich he needs to inject more flair into his side and the billionaire Chelsea owner is backing his young manager to the tune of ?60m.
So far this summer, Chelsea have watched Manchester City and Manchester United splash more than ?50m to breathe fresh life into their teams, and now Abramovich is ready to make his move.
Double trouble: Chelsea hope to complete the ?60m double swoop for Tottenham's Luka Modric and Valencia's Juan Mata
As revealed by Sportsmail, Chelsea had a ?22m bid for Mata rejected by Valencia this week. They will now return to the Spanish club with an offer of ?27m, plus ?2million in top-up payments.
Mata was the star of this summer's European Under 21 Championship, and he is believed to be desperate to move to the Premier League. He has also been tracked by Arsenal and Tottenham.
Villas-Boas has also persuaded Abramovich to dig deep in an attempt to wrap up the signing of Tottenham star Modric. Chelsea have previously bid ?27m, and Spurs boss Harry Redknapp reluctantly indicated on Wednesday that he might have to sell his star midfielder.
There is a substantial block to any deal in the shape of Tottenham chairman Daniel Levy, who has declared that Modric is not for sale 'at any price'.
Better bench: Andre Villas-Boas knows his Chelsea side has little in terms of strength in depth
Villas-Boas chose his words carefully yesterday when pressed about Modric, saying: 'The only thing I can say is just that it can happen. I don't know to what extent we can go regarding his price because we are speaking about a high amount and nothing else, basically. End of story.'
He added: 'Whatever comes from Harry's mind is his own opinion about the situation. I just have to study the rest of the market and hopefully find a solution for my team.
'It depends on a lot of things. It depends on Chelsea's decision - if they are willing to go forward or not; up to which value and to decide whether they want to keep the interest in the player. It doesn't depend on me. It's not my money!
'Luka, on this particular occasion, is a young player but there would be for sure a sensible price to pay.'
Playing catch-up: Manchester City have already strengthened to the tune of more then ?50m
Villas-Boas acknowledged the impact a star signing - such as ?38m striker Sergio
Aguero at Manchester City - could make to his side. He is optimistic they will deliver at least one big-name player this summer, with a midfielder the priority in light of Michael Essien's six-month absence after knee surgery.
Villas-Boas said: 'We are happy with what we have running into the West Brom game. With Essien's injury, it's fair to say we might go to the market regarding a midfielder.
'For the first competitive games, bearing in mind the group phase of the Champions League, the start of the Carling Cup, we might just add a number in midfield.'
On board: Chelsea unveiled new signing Romelu Lukaku at their training ground
Chelsea are also signing up a crop of young stars. They have already signed 19-year-olds Oriol Romeu and Thibaut Courtois this summer and completed the transfer of Romelu Lukaku, 18, from Anderlecht yesterday.
The muscular striker is hailed as the 'next Didier Drogba' and has been a Chelsea fan since watching Jimmy Floyd Hasselbaink in a blue shirt, aged nine.
On being compared to Drogba, Lukaku told Chelsea TV: 'We have similar playing styles, but I am also very fast. I want to learn off him how it is to play here at Stamford Bridge and how to prepare for games.'
Chelsea are on the verge of completing their third Belgian signing of the summer after agreeing a ?9m deal for Genk winger Kevin de Bruyne, 20.
In safe hands: Radamel Falcao is poised to join Atletico Madrid as replacement for Sergio Aguero
Villas-Boas has confirmed John Obi Mikel has made himself available for the West Brom game, despite the kidnap of his father, Michael, last Friday.
The player's agents, SEM, issued a statement yesterday saying a 'sizeable ransom demand' has been made for Mr Obi's return. Sportsmail understands the figure is far more than the ?80,000 originally reported.
Meanwhile, Atletico Madrid have agreed a ?35m deal to sign striker Falcao, a one-time Chelsea target, from Porto. The 25-year-old Colombian is reported to have signed a five-year contract.
Portuguese midfielder Ruben Micael has also moved to Atletico for around ?4m as part of the agreement but is expected to be loaned out to Real Zaragoza.
CLICK HERE TO SIGN UP FOR OUR FREE FANTASY FOOTBALL GAMELukaku makes Chelsea move and vows to learn from DrogbaVillas-Boas plays down Modric bid despite Spurs admitting they're ready to sell Exclusive: Chelsea fall short with ?22m bid for Valencia ace Juan Mata