Chelsea chairman Bruce Buck admits UEFA's financial 'Fair Play' plans will see them spend less in the transfer market.

Chelsea reported an annual loss of £70.9million in January.

Buck said: "You've seen the kinds of losses that we've had in the last five or six years and they've been significant - I can't deny that.

"But we need to have an approach and a structure that enable us, as the Financial Fair Play rules come in slowly, to over the time period allowed comply with Financial Fair Play."

Buck admitted that would mean Chelsea spending less in the transfer market.

He said: "It has to come down as a gross number but I can't comment on - because I don't know - whether there might be a signing in the future."

Buck added: "We are looking more at increased sponsorship and a little bit at how we might be able to trim the wage bill, so it's more of a matter of a balancing act of trying to lower our expense side a little bit and raise our revenue side."