It has been a year to forget since the Blues ran away with the title last season and it hit a nadir in December when Jose Mourinho was sacked as manager.
Now, optimism is growing among Chelsea supporters that incoming manager Antonio Conte will get the club competing for at least a top four finish next term and perhaps even for the title.
If that is to be the case, plenty of work is necessary in the upcoming transfer window to improve a squad that has some significant weaknesses. Fans are already upset that captain John Terry looks almost certain to leave when his contract expires at the end of the season.
There have even been some suggestions that Emenalo may find his role restricted to identifying younger talents.
Marina Granovskaia, the director who was once Abramovich’s personal assistant, will lead negotiations over transfers this summer with help from Emenalo.
BUDGET
Chelsea’s total spending this summer may well depend on any major player sales, with the likes of Thibaut Courtois, Diego Costa, Eden Hazard and Nemanja Matic all linked with moves away from Stamford Bridge.
Chelsea’s turnover of £314.3m in their last financial accounts is expected to rise this year due to their £40m-a-year sponsorship deal with Yokohama Tyres – but the Blues will also take a financial hit next season after failing to clinch Champions League football.
Their wage bill for the 2014/15 season – £215.6m – was the highest in the Premier League and there is a sense that it needs to be brought under control, particularly as the club plan for their £500m stadium redevelopment.
WHAT THEY NEED
The rest of their activity could depend on the formation Conte wants to play as well as the need to replace any players that leave the club.
But they want to sign a commanding central midfielder to dominate games in a way that Nemanja Matic has failed to do in the last nine months, while Conte wants to bring in a proven goalscorer given Diego Costa has scored just 12 league goals this season.
TRANSFER TARGETS
Chelsea hope to make Roma midfielder Radja Nainggolan their first signing under Conte and talks are well advanced over a £31m transfer and five-year contract.
The Belgian would add energy to a midfield that has looked lethargic for much of the campaign and the 27-year-old wants his future resolved before the start of Euro 2016.
Conte’s dream signing would be Paul Pogba and he has already been on the phone to the 23-year-old, who he brought to Juventus and developed into a world class player.
Pogba, though, would cost around £80m and Chelsea would need the asking price to come down, while the player himself would prefer to play in the Champions League and has his heart set on working under Pep Guardiola at Manchester City.
Arsenal have also expressed interest in Manolas but Chelsea are favourites to sign the 24-year-old.
They are also keeping close tabs on Manolas’ teammate Antonio Rudiger but have been told by Juventus they have no chance of taking Leonardo Bonucci to Stamford Bridge.
Conte is also likely to return to Serie A for a new goalscorer and Napoli striker Gonzalo Higuain is his first choice.
The Argentine, 28, would cost £42m but has an astonishing record having scored 33 goals in 34 league matches this season. His signing may well depend on Costa’s future at the club.
The Blues may rival Arsenal for Alvaro Morata. Real Madrid are expected to activate a £23.7m buy-back clause in the player’s contract and then sell him on for around £30m.
POSSIBLE OUTS
John Terry is all but certain to leave Chelsea this summer 18 years after making his debut for the club. The club captain has not been offered a new contract when his current deal expires at the end of the season and the 35-year-old has told friends that he expects to move to China on a lucrative deal.
Goalkeeper Thibaut Courtois is unhappy in west London and is admired by Real Madrid, who made enquiries for him last summer.
The Belgian would like to return to Madrid – where he previously had a spell on loan at Atletico – and has invited speculation over his future by refusing to confirm whether he will be at Chelsea next season.
Likewise, Diego Costa has told his camp that he would like a return to Spain having failed to settle in London. After he fired Chelsea to the title last season with 20 goals in 26 league matches, the striker has netted just 12 times in 28 appearances this season.
His preference would be to return to Atletico but Chelsea would ask for a fee approaching £40m.
Eden Hazard is another who has been continually linked with a move away from Chelsea and has flirted with Paris Saint-Germain and Real Madrid.
But the Blues are adamant it would take at least £80m to sign Hazard, who has perked up in recent weeks – just in time for Euro 2016 and the transfer window – with four goals in his last four matches.
Conte would like to keep Courtois, Costa and Hazard but long-term Juventus target Oscar will be allowed to leave this summer, with the talented 24-year-old feeling he needs a fresh start.
Chelsea would want to make a profit on the £25m they spent to sign Oscar in the first place in 2012 and reinvest the funds into the team.
Branislav Ivanovic could also leave, although he has a strong relationship with Abramovich and the Russian may want to keep him around the club. John Obi Mikel almost joined Galatasaray last summer and could be sold this year to make more room for academy products such as Ruben Loftus-Cheek.
Mohamed Salah will complete a £15m permanent transfer to Roma, where he has been on loan this season, while Juan Cuadrado will also move to Juventus permanently, with talks advanced as the clubs look to reach an agreement.
Unsurprisingly, Chelsea will allow Radamel Falco and Alexandre Pato to leave when their loan deals expire.
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