If reports are to be believed, Chelsea could be set for a significant overhaul of their squad in next month’s transfer window. Forward Daniel Sturridge is widely expected to complete a £12 million move to Liverpool in the opening days of next month’s transfer window. His departure would mean that signing a forward would surely be a certainty, with it leaving Fernando Torres as the only established striker remaining on the Blues’ books.

Top of Chelsea’s wish list looks to be Atletico Madrid’s Radamel Falcao. According to the Daily Star, Chelsea have already drawn up a contract for the prolific Colombian worth £200,000 a week. Falcao has a buyout clause worth €60 million (£48.8m) and it seems certain that Chelsea would have to pay that in full to secure the player in January.

On the basis that they are unable to lure Falcao to Stamford Bridge next month, the Daily star is also suggesting that Chelsea are one of a number of Premier League clubs trying to sign David Villa. Spain’s record goal scorer has featured only sparingly for Barcelona this season after making his return from a broken leg.

That has led to reports that that 31-year-old will seek a move away from the Camp Nou. Spanish soccer expert Guillem Balague has said that Villa will be reluctant to leave next month but could well be open to a move at the end of the season. Balague believes that Villa could be available for £15 million.

As well as Sturridge, there has also been talk that Frank Lampard could leave the club in January. The veteran midfielder’s contract expires next summer, but there has been plenty of suggestion that he could depart sooner, with Queens Park Rangers mooted as a potential destination. Former Chelsea boss Claudio Ranieri has also hinted that he would be keen to bring the 34-year-old to Monaco.

"Oh, it would be fantastic,” Ranieri told ESPN Star Sports.

"[He could perform well in Ligue 1]—why not? Frank could play in every country."

The Italian went onto say that a deal may be unlikely.

"Look, I think that my chairman wants young people," he added. "Young players to develop that can get better [together over time]."

Regardless of whether Lamaprd leaves, it seems likely that Chelsea boss Rafael Benitez will push for midfield reinforcements in January. Oriol Romeu has been sidelined for the rest of the season through injury and with Michael Essien on loan at Real Madrid, the Blues looks short in the middle of the field.

While Everton’s Marouane Fellaini has been strongly linked with a move to Chelsea, the Daily Star puts Porto’s Joao Moutinho forward as a potential target. The 26-year-old was reportedly a target for Chelsea when Andre Villas-Boas was in charge at Stamford Bridge and this past summer the Portuguese boss was close to taking Moutinho to Tottenham.

It had been expected that Spurs would again try to sign Moutinho in January, but he is now also said to be on Chelsea’s shortlist.