
Milan ace Alexandre Pato is top of owner Rom's hitlist. Ancelotti takes over on Wednesday and will be unveiled a week tomorrow with billionaire Abramovich keen to celebrate his arrival by clinching as least two "stellar signings".
Chelsea will make a fresh £50m offer for AC Milan's Brazilian striker Pato, 19, after their £45m bid was rejected.
The Blues have already clinched a £19m deal for CSKA Moscow winger Yuri Zhirkov, 25, with Manchester City's 19-year-old Daniel Sturridge another done deal.
Ancelotti has handed Chelsea a wish list of stars to pursue which includes Pato's AC Milan colleague Andrea Pirlo, Bayern Munich's Franck Ribery, Liverpool duo Fernando Torres and Xabi Alonso and Arsenal midfielder Cesc Fabregas.
Ancelotti is also ready to offer new £125,000-a-week deals to striker Didier Drogba, left-back Ashley Cole and midfielder Michael Essien as he bids to land Rom the Champions League crown he covets.
But newly-married England ace Joe Cole and Portugal defender Jose Bosingwa could be on their way out of Stamford Bridge.
Middlesbrough keeper Ross Turnbull, 24, will be on the payroll alongside Zhirkov and Sturridge by the time Ancelotti meets his squad for the first time next week.
Boro's England Under-21 star Adam Johnson, 21, and Charlton prospect Jonjo Shelvey, 17, are also targets.

I don't see why Joe Cole is going out leh... hmm
Bosingwa is going out most probably because of the exchange for Ribery....