Chelsea's spending has dominated the past three transfer windows since the Clearlake ownership group took over the club in May 2022.
Led by Todd Boehly and Behdad Eghbali, they have spent more than £1bn on new players and broke records, offset by some significant outgoings last summer.
That recent expenditure, plus a stuttering season under new manager Mauricio Pochettino, sees Chelsea again being linked with more transfer activity during this January window, including rumours of academy graduates Conor Gallagher, Ian Maatsen and Trevoh Chalobah being sold to raise funds for a new striker.
BBC Sport looks at what might happen at Stamford Bridge during this month's transfer window.