The Sun says that is the transfer chest Abramovich has agreed after being left embarrassed the club were trophy-less for the first time in four years.
A Chelsea source revealed: "Avram Grant won nothing and was fired. Roman is not prepared to settle for second best.
"Any candidate for manager will be made aware of what's expected. But significant funds will be made available."
Among several targets, Chelsea want Valencia striker David Villa and Barcelona wonderkid Giovani Dos Santos.