Chelsea manager Antonio Conte will be given £200m ($257m) to upgrade his squad in preparation for Champions League football next season, according to reports.
The Daily Telegraph says Conte has a drawn up a list of transfer targets that includes Everton striker Romelu Lukaku, Arsenal's Alexis Sanchez, Monaco's Tiemoue Bakayoko and Southampton centre-back Virgil van Dijk.
Meanwhile, as many as nine first-team players at Chelsea are facing doubts over their futures, including Diego Costa, Cesc Fabregas and Nemanja Matic.
Costa is understood to be interested in making a return to Atletico Madrid, with the striker saying after the FA Cup final defeat against Arsenal that he could leave Chelsea if the club signed a new big-money striker in the summer.
Fabregas was unhappy at being left out of the starting line-up for the FA Cup final, while talks over extending Matic's contract have run into an impasse.
Michy Batshuayi, Nathan Ake, Kurt Zouma, Ruben Loftus-Cheek, Kenedy and Ola Aina are other first-team players whose futures are uncertain.
John Obi Mikel, Branislav Ivanovic and Oscar left the club last season, while John Terry and Asmir Begovic will leave in the summer.
However, Chelsea are confident that Conte will get a contract extension worth £9.6m a year.
The departing Terry said Chelsea could not rest on their laurels after their title-winning campaign.
"Clearly we have to keep improving year after year. You can't stand still in the transfer market," he was reported as saying.
"Man City have already made one big signing, we need to act fast and I am sure the club will. Everyone needs to keep raising the bar.
"I am sure we'll do the same, the manager stressed that himself. But this team is a great group and certain people have stood up to the plate."