Chelsea owner Roman Abramovich will hand Carlo Ancelotti a £50 million transfer kitty to kickoff his Stamford Bridge reign.

The Sun says departing AC Milan coach Ancelotti, 49, is expected to be unveiled officially as Guus Hiddink's successor within 24 hours.

After his last game with Milan - a 2-0 win at Fiorentina - he said: "In agreement with the club, we have decided to terminate the contract a year early.

"It was decided by mutual consent after the game. Our roads will separate next season."

At least THREE new stars are on the radar with owner Roman Abramovich giving Ancelotti the biggest Blues transfer budget since Jose Mourinho.

It is the first time in two seasons the Russian owner has dipped into his own pocket to buy players.