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War chests may invoke medieval images of bejewelled coffers, dripping with shiny booty and overflowing with coins, but they can also be quite handy in the modern day world of football.

Managers love nothing more than stamping their authority on a squad by splashing cash from a big metaphorical container on new players during the transfer window.

And considering it is no secret that Chelsea owner Roman Abramovich has a few bob to spare, even during these most crunchy of financial times, it comes as no surprise to hear that the Russian billionaire has prepared a huge £50 million box of treasures.

According to The Daily Telegraph, the sum is part of a deal that has been put together in a bid to entice Carlo Ancelotti to Stamford Bridge, once Guus Hiddink leaves at the end of the season.

Chelsea have apparently already agreed a deal with Milan to take Ancelotti to West London after dangling a huge carrot - in the form of the sizeable initial transfer budget - in front of the Italian..

The report claims that Ancelotti greedily gobbled it down and has already made a summer hit list of players he wants to jazz up his new squad.

Who are they?

Well, how about Emmanuel Adebayor, Yuri Zhirkov and Carlos Tevez for starters?

Ancelotti is a big fan of Arsenal striker Adebayor, whom he tried to sign for Milan last year before the Togo hitman opted to pen a new deal at the Emirates.

CSKA wing-back Zhirkov has already appeared on Chelsea's radar, what with Abramovich and Hiddink's connections with Russia, and Ancelotti is also thought to be an admirer.

And Tevez - who, despite starting three of Manchester United 's last four Premier League games, still cannot class himself as first choice - has yet to sign a permanent deal with the Old Trafford club, a situation Chelsea are hoping to exploit.

While the figures do not quite match up - Adebayor is valued at £20m, Zhirkov at £15 and Tevez at more than £20m - if nothing more, the move shows Abramovich's intention to continue bankrolling Chelsea's activity on the transfer market, despite a turbulent year off the field.

But the Blues are bound to face competition, with Tevez in particular set to prompt a bidding war should he not stay at Old Trafford beyond his current lease agreement.

Real Madrid are also thought to be keeping track of the Argentina striker's situation, as are Serie A duo Juventus and Internazionale, and moneybags Manchester City.

In other wheelings and dealings, West Ham boss Gianfranco Zola is keen to secure the future of Mathew Upson at Upton Park. And the little Italian would be well within his rights to feel confident after having already tied down nine others of this first team squad to new deals.

Indeed, Zola's mission to hang on to as many of his current squad could well prove shrewd as The Guardian reports that the club is on the verge of being taken over by a consortium of international banks.

Staumur, the bank who backed Bjogolfur Gudmundsson's takeover of the Hammers in 2006, was nationalised last month in the wake of Iceland's financial meltdown and is now set to be taken over.

That would mean a new board at Upton Park and, more pertinently for this column, no funds for Zola to spend on new players this summer.

Across town at Fulham, Roy Hodgson has insisted Brede Hangeland is close to penning a new deal, despite interest from Arsenal while in the Midlands, Aston Villa boss Martin O'Neill is lining up a £6m bid for Leeds youngster Fabian Delph .

And finally, down to the Championship where QPR - not a club to sell themselves short these days - have targeted none other than Brazilian legend Romario as Paulo Sousa's replacement in the Loftus Road hotseat.

The former Barcelona ace, who famously might, or might not, have scored 1,000 goals as a player, is expected to face stiff competition for the job from Alan Pardew.

Eurosport