Radamel Falcao - Athletico Madrid
Falcao has emerged as the best no. 9 in the world and is targetted by some of the richest clubs in Europe. Chelsea are favourites to land the Colombian with a £10m-a-year wage package and are ready to activate the 26-year-old strikers £48 million buyout clause in January. Falcao has scored 16 goals in 15 matches in the La Liga this season, second best to Lionel Messi.
Paulinho - Corinthians
Chelsea will try hard to bid for Paulinho who is also a target for Manchester City. The Blues need a midfielder as John Obi Mikel will be away with national duty at African Cup of Nations. Oriol Romeo is out of action for three to six months through injury while Rafa Benitez is left with only Frank Lampard and Ramirez in the middle. The 24-year-old has won 8 caps with Brazil scoring two goals.
Theo Walcott - Arsenal
As Chelsea prepare to offload striker Daniel Sturridge, Arsenal contract rebel Walcott is another target in January. Sturridge could be moving to Liverpool but Walcott, who is demanding nearly £100,000-a-week contract from Arsenal, is a target for Manchester United, Manchester City and Liverpool too. City and Chelsea may lure him with an attractive package but the England winger could go in search of Champions League football.
Marouane Fellaini - Everton
The towering Belgian international has been valued at £30 million by Toffees manager David Moyes after his impressive performance in the Premier League this season. With Chelsea lacking force in midfield, owner Roman Abramovich could break the bank to land Fellaini. The 25-year-old admitted that he could leave Goodison Park in the near future and the recent headbutt incident with Stoke's Ryan Shawcross could force his exit sooner rather than later.
Andre Schurrle - Bayer Leverkusen
Leverkusen rejected £16 million bid in the summer but the Blues have not given up hopes of signing the Germany striker. This time out, Chelsea are ready to splash out nearly £20m for Schurrle, who has powerful left foot and has been tipped to replace legend Didier Drogba, in January.