Having been appointed in September, this is manager Graham Potter’s first window in charge and only the second for new owners Todd Boehly and Clearlake.
Chelsea broke the world record for spending in a single window when they splashed out £272million in the summer but still have a rebuilding job on their hands.
Eighth in the Premier League ahead of the restart and in danger of missing out on Champions League qualification, the Blues urgently need further investment to give them a boost.
With Armando Broja out for the rest of the season with a serious knee injury, Chelsea are short up front.
RB Leipzig forward Christopher Nkunku has agreed a £52m deal to join in the summer but Potter may need a short-term solution until then.
Chelsea are closing in on a deal to sign 19-year-old striker David Datro Fofana from Molde but he is more seen as one for the future, along with Brazilian starlet Andrey Santos.
Atletico Madrid and Portugal star Joao Felix is a potential option, along with Barcelona’s Memphis Depay.
What else they need
The Chelsea midfield needs a rebuild, with Jorginho and N’Golo Kante both having less than six months left to run on their current contracts. Both will be free to talk to other clubs in January.
England pair Declan Rice and Jude Bellingham are both costly options but are now seen as priorities.
Reports in Portugal claim the Blues have made a £115m bid to sign the 21-year-old Argentina midfielder Enzo Fernandez from Benfica.
Standard Sport understands that a meeting has taken place for the signing of the World Cup winner.
Chelsea could well get two new strikers, with Fofana likely to be signed for around £6m and then loaned back out.
Joao Felix is a good option and could be available on loan but the Blues have yet to show their hand in the striker market.
Chelsea are in talks to sign Monaco defender Benoit Badiashile in a deal that could be worth around £35million.
The 21-year-old has emerged as a primary target, with fitness concerns surrounding both Wesley Fofana and Ben Chilwell.
A deal could be done with Leipzig for defender Josko Gvardiol but it would likely be with a view for him to join over the summer.
Hakim Ziyech is attracting renewed interest from AC Milan, with an option to buy likely to be included in a loan deal.
The Serie A giants went cold on a move after exploring the possibility in the summer but are thought to be interested again, with the Moroccan winger keen to leave Stamford Bridge.
Manchester City are trying to poach academy striker Jude Soonsup-Bell amid competition from clubs across Europe.
Edouard Mendy continues to stall on a new contract, which could see Chelsea enter the goalkeeper market in the summer.