Ancelotti claims he is totally happy with his squad, even though four first-teamers go to the Africa Cup of Nations in January and an 18-month transfer ban remains a serious threat.
'It's not necessary at the moment to take new players.' said Ancelotti, after learning the Court of Arbitration for Sport had agreed to suspend all punishments and lift the transfer embargo until the appeal can be heard next year.
Controversy: Gael Kakuta's 2007 transfer to Chelsea was found to be in breach of rules
Green light: Carlo Ancelotti is likely to be able to sign players in January
The Blues will certainly try to bolster their squad, targeting astriker and a midfielder, with Atletico Madrid's Sergio Aguero andNapoli's attacking midfielder Marek Hamsik on a list of possibletargets.
Argentine Aguero scored two brilliant goals against the Blues in theChampions League on Tuesday but his club has made it clear offers forthe 21-year-old striker should start at £40 million.
Chelsea are determined not to pay such a price, even with the banlooming, but will be interested if a deal can be struck for less than£30m.
Slovakian international Hamsik, 22, has impressed in the two yearssince Napoli bought him for £5m from Brescia and is viewed by Chelseascouts as a possible long-term successor to Frank Lampard.
January can be an awkward window for doing transfer business becausefees are inflated and clubs are reluctant to lose their best players inmid-season unless desperate for the money.
Earlier this week, Chelsea's new chief executive Ron Gourlay said:'We've not been known to spend a lot in January. We have the money ifwe decide we want to spend it but the right player's got to beavailable.
Audition: Chelsea target Sergio Aguero scored two for Atletico Madrid against the Blues in midweek
'We have one of the strongest pools of players out there. We're in agood position but if we need to buy and the right player is there, thenwe will.'
FIFA banned Chelsea from signing players for two transfer windows inSeptember after they were found guilty of inducing French teenager GaelKakuta to break a contract with Lens in 2007.
Chelsea appealed to theCAS but chose not to fast-track the hearing, which means the appeal maynot be heard until March and the verdict could take several weeksbeyond that.
January jaunt: Didier Drogba is set to join up with the Ivory Coast for the Africa Cup of Nations
Kakuta is available to Ancelotti because his four-month playing banis also lifted until the case is heard. The 18-year-old midfielder willplay for the reserves against Fulham on Monday.
Meanwhile, Chelsea will monitor the appeal of Swiss club Sion,banned from transfers in similar circumstances, which is due before CASon December 9.
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