Chelsea capped off an impressive first half of the season with victory against Arsenal at the Emirates Stadium, where Frank Lampard's side battled from behind to secure all three points.
That saw the Blues respond perfectly to a surprising defeat to Southampton on Boxing Day, which showed that there is still work to be done in order to secure another season of Champions League football.
Restricted in the summer due to Chelsea's transfer ban, January presents Lampard with his first opportunity to bolster his squad in West London and it's a chance that's likely to be taken.
As such, plenty of speculation is orientating around the business that could be conducted in the New Year and we have gathered some of the latest gossip below.
Club-record Coutinho bid
Chelsea are leading the chase to sign Philippe Coutinho from Barcelona once his spell on loan with Bayern Munich ends, according to Spanish outlet El Desmarque.
The former Liverpool star was heavily linked with a move to Stamford Bridge during the summer transfer window but a deal could never materialise due to Chelsea's ban.
As such, he moved on loan with Bayern, where he has caught the eye, but the Bavarian side are said to not be willing to pay his £100m asking price in order to make a deal permanent.
A return to the Premier League is said to therefore be on the cards, with Chelsea the side said to be ready to smash their transfer record in order to beat Manchester United and Tottenham to a deal.
Giroud open to Arsenal return
Olivier Giroud is widely expected to leave Chelsea in January but he may not be moving far, as journalist Ian McGarry has stated the France striker is open to returning to Arsenal.
The World Cup winner joined Chelsea in January 2018 from the Gunners but has fallen down the pecking order since Frank Lampard's arrival, leaving him on the hunt for a new club ahead of next summer's European Championships.
While a return to French football has been mentioned, as well as interest from Inter Milan and Juventus, Giroud could remain in the Premier League if Arsenal present him with an opportunity.
The Gunners may be in the market for a new forward in January as speculation surrounding the future of Pierre-Emerick Aubameyang continues to surround the Emirates Stadium.
Chelsea eye wonderkid
Chelsea are monitoring Carlisle United defender Jarrad Branthwaite and could lock horns with Liverpool in the battle to sign the teenage wonderkid, the Daily Mail states.
The highly-rated centre-back has become an established part of Carlisle's first-team this season but is expected to be on the move in January due to a rise in interest from Premier League clubs in his services.
17-year-old Branthwaite has already been linked with a number of clubs but the fresh reports state that it is Chelsea and Premier League leaders Liverpool who are keeping close tabs on his development.
The fact that Frank Lampard has already impressed by developing young assets at Stamford Bridge could be a deciding factor, as he'd face a stern challenge getting first-team opportunities at Liverpool.
