Chelsea are handing new manager Carlo Ancelotti a £100 million transfer warchest.

The Daily Star says Ancelotti will be given a war chest of at least £100m by Chelsea owner Roman Abramovich.

And he will get down to business straight away, with Blues skipper John Terry revealing the FA Cup winners are ready to splash out £70m of that on Bayern Munich winger Franck Ribery and Valencia striker David Villa.

As well as Ribery and Villa, Ancelotti wants to bring experienced Milan midfielder Andrea Pirlo, 30, who would cost around £12m, with him to Chelsea.