The Russian billionaire is keen on improving the club's creative options and is reportedly willing to part with up to £80 million when the transfer window opens in order to ensure Chelsea are challenging on all fronts come next season.
Top of his wishlist are Premier League duo Cesc Fabregas and Gareth Bale, who could make up the entire budget with Arsenal and Tottenham unwilling to let their key men leave on the cheap.
- - -
One man who could be on his way to north London rather than out of it is Birmingham City keeper Ben Foster.
The former Manchester United man has enjoyed a fine debut season at St Andrew's since joining for £6m last summer and has attracted the attention of both Spurs and Arsenal.
Both clubs are intent on signing a new number one after poor displays from Heurelho Gomes and Manuel Almunia, leaving Foster with a difficult choice should both clubs make a firm offer in the coming months.
- - -
Manchester City hope to sign Bolton's Gary Cahill by offering Craig Bellamy and Dedryck Boyata as part of the deal.
City and local rivals Manchester United look likely to miss out of Udinese star Alexis Sanchez to Real Madrid.
Stoke, West Brom and Sunderland all want Blackpool midfielder David Vaughan.
Newly promoted QPR are hopeful of signing Watford striker Danny Graham for £3m.