Chelsea are planning a £150m January mega spend if the appeal against their transfer ban is overturned.
The Court of Arbitration for Sport will hear the Blues' appeal against the two-window suspension on November 20.
The Sun says despite climbing to third in the Premier League with a clutch of home grown players they are continually linked with new signings.
Crystal Palace attacker Wilf Zaha, Leicester left back Ben Chilwell and RB Leipzing's Germany striker Timo Werner are among the favourites.
Blues boss Frank Lampard has curbed years of high-end transfer spending and promoted academy graduates Mason Mount, Tammy Abraham, Fikayo Tomori and Callum Hudson-Odoi.
Lampard said: “At Chelsea we will always look to improve in windows, if we're allowed to, and if the players we might look at are better or we feel are adding to the squad.
“Of course I'm interested because it's obviously going to affect potentially what we can do in January or not."