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Recent struggles aside, there is plenty of cause for optimism at Chelsea on both a footballing and transfer front. Defeats to Everton and Wolverhampton Wanderers were a check on domestic momentum but they remain well placed in the Premier League and topped their Champions League group.

Frank Lampard has largely managed to effectively balance a disparate squad, notably providing a convincing case for Olivier Giroud to assuage his doubts - first revealed by CBS Sports in November - as to whether he would get enough regular minutes to firm up his Euro 2020 role with France.

A young squad that had $300million invested in it just over the summer might not be quite ready to compete yet but it is on an impressive path so far. 

Fabrizio Romano's take on Chelsea

Giroud will also consider staying even though he really thought about leaving in November. He is now playing more, so Chelsea will soon make a final decision together with the Frenchman. After a summer of big expenses, no huge investments are planned in January, but the idea remains to buy a midfielder. The top target is Declan Rice, he would like to join Chelsea but West Ham continue to ask for too much money (in September the request was $108million).

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Players Chelsea should target

Rather than filling positions Chelsea are perhaps more in need of the odd injection of quality depth that takes them from top four candidates to serious rivals to the likes of Liverpool. Rice would offer that in midfield and prove to be a versatile addition who could fill in as a center back when required.

In defence Thiago Silva has proven to be an exceptional leader of the backline but he was only ever a short-term candidate. David Alaba is out of contract at the end of the season and has been linked with a move to Stamford Bridge on a free. Of course neither he nor Rice would be any easier to obtain in January than come the end of the season, quite the opposite in fact. When those are the standard of players you need, sometimes the best choice is to stand pat.

Players most likely to leave

Lampard will have to carefully manage Giroud's minutes over the coming weeks to ensure the Frenchman is still confident that Stamford Bridge is the place for regular gametime but in his current form he ought to play more than often enough. If he can be retained then director Marina Granovskaia will be able to focus on trimming back the squad.

At least one of two left-backs - Marcos Alonso and Emerson Palmieri - will be allowed to go. The same is the case with the central defensive group. Fikayo Tomori turned down a loan move to West Ham in October to fight for his place but with game time hard to come by this season he will not be short on suitors in the new year.

Antonio Rudiger has also been struggling for minutes and is unhappy about that. "I can't be satisfied with my situation, but the fight has been accepted," he said earlier this month. Midfielder Billy Gilmour has also been linked with a loan move away but played down the prospect of him departing before a Champions League game against Krasnodar. Danny Drinkwater has been available for some time but has not attracted interest since his disappointing loan spell at Aston Villa in the second half of last season.

Transfer prediction for Chelsea

The big business is unlikely to be repeated in January, though as Chelsea proved with their signing of Christian Pulisic in January 2019 if the right player can be secured they are prepared to pay the price early even if it means waiting until the new season to use them.

Instead expect Chelsea to trim back their squad instead, cutting numbers at left-back and in central defense.