With Chelsea ready to spend £100million on summer transfers, Milan's Alexandre Pato has emerged as the Blues' top target.

New Chelsea boss Carlo Ancelotti will get a substantial welcome gift from club owner Roman Abramovich in the form of £100million to spend on building his squad for the 2009/10 season.

With Chelsea already declaring their desire to secure two "stellar signings," numerous big-name players from leagues all across Europe have been linked with a move to Stamford Bridge.

Ancelotti has handed the Blues a transfer wish list, with Pato emerging as the Italian's main target, topping a list which also includes Andrea Pirlo, Frank Ribery, Fernando Torres, Xabi Alonso and Cesc Fabregas.

Chelsea had a recent £45million bid for Pato turned down by Milan, but are ready to launch an increased bid of £50million to land the 19-year-old.

The London side have already secured the signature of several players, including CSKA Moscow midfielder Yuri Zhirkov, Manchester City's Daniel Sturridge and Middlesbrough keeper Ross Turnbull.

Along with negotiating deals to bring players to the club, Ancelotti has also offered new deals to striker Didier Drogba, defender Ashley Cole and midfielder Michael Essien worth £125,000-a-week.

No such deals have been negotiated for Joe Cole or Jose Bosingwa though, and both look set to be on their way out of the club.