Chelsea boss Carlo Ancelotti hasn't given up hope of signing Bayern Munich midfielder Bastian Schweinsteiger.
The Sunday Mirror says Chelsea owner Roman Abramovich has given the Italian coach assurances he will fund an overhaul of the team and provide Ancelotti with significant funds to compete with their rivals in the transfer market.
Schweinsteiger appears to have delivered a crushing blow to would be suitors of his signature by signing a new four-year contract at Bayern Munich seven days ago.
Manchester United and Real Madrid have been heavily linked with Schweinsteiger, who starred for Germany during the World Cup last summer.
Ancelotti believes Bayern would not rule out selling for the right price and have merely protected their investment by extending the player's contract.
