Abramovich will be looking to bolster the Londoners who are third in the Premiership four points behind Manchester United, after getting their title challenge back on track with a 3-0 win over Premiership newcomers Portsmouth on Sunday.

Their campaign has been given a huge boost this season by the 111 million pounds (191 million dollars) that oil tycoon Abramovich has poured into the club, allowing the acquisition of some of the game's top player, and the spending could continue this month.

Abramovich's hunger for a title could benefit Spanish side Valencia whose Argentine defender Roberto Ayala is being eyed to bolster out-of-favour captain and French international Marcel Desailly.

The names of Inter Milan's Italian striker Christian Vieri and France's David Trezeguet, who has still not extended his deal with Juventus, are also being touted with a move to Chelsea, with Arsenal having already rejected an offer from their London rival's for Thierry Henry.

Real Madrid's Portuguese midfield star Luis Figo has also brushed aside talk of negotiations with Abramovich.

English champions Manchester United, meanwhile, are also in the hunt for a striker to back up Ruud van Nistelrooy, and have already indicated their interest in Fulham's French forward Louis Saha.

Manager Chris Coleman has turned down a 5.5-million-pound bid from the champions but the west London club's resolve is likely to be severely tested if United come back with a bigger offer once the transfer window formally opens.

United boss Alex Ferguson has identified Saha as his number one target as he seeks to ensure he has cover for Nistelrooy.

If Fulham hold out, Ferguson is expected to turn his attention to either Leeds' Mark Viduka or West Ham's Jermain Defoe, both players who, like Saha, would be available to play in the Champions League having not been involved in Europe with their respective clubs this season.

Skipper Roy Keane believes United are in good shape to retain their Premiership title, but could still do with a couple of new players in the squad.

"The spirit amongst the squad is outstanding, but I still think we could do with another one or two players," said Keane.

"When you bring someone in, it gives everyone a lift and I know myself from when the manager buys a midfield player it makes you step up another level."

In France, Marseille are poised to finalise the signing of Manchester United goalkeeper Fabien Barthez who fell out of favour at Old Trafford following the arrival of American keeper Tim Howard and has been training at the French club since November.

The club were denied permission to sign Barthez outside of the transfer window by UEFA, but have been paying part of his wages since November.

"We are going to try to sign him as soon as possible," said Marseille president Christophe Bouchet. "If we can it will be on January 1 or 2 at the latest. We have no time to waste."

Cash-strapped Serie A side Parma, crippled by debts of around 40 million euros, will be hoping to offload some of their stars in a bid put their money worries behind them.

Japanese international midfielder Hidetoshi Nakata, who is the Italian club's biggest salary, could find himself playing in the colours of rival's Bologna next season.

The two-time Asian footballer of the year is reported to be starting off the season on a loan deal at Bologna.

The chase is already on to sign World Cup winner Rivaldo who was released by his Italian side AC Milan last month.

A clutch of clubs are reported to be chasing Rivaldo, but a stumbling block could be his wages. The 1999 FIFA World Player of the Year was reported to be on 215,000 euros (258,000 dollars) a week at Milan.

Rivaldo's agent says they have had three offers from English Premiership clubs and have already turned down an offer of one million dollar's a month to play in Qatar. Portuguese giants Benfica are also reported to be interested.