Chelsea are set to bring in AC Milan forward Rafael Leao and Dynamo Moscow midfielder Arsen Zakharyan before Thursday, according to The Times.
Chelsea decided to go for the two stars after Paris Saint-Germain made a U-turn on their earlier decision to sell either Lionel Messi or Neymar.
Chelsea owner, Todd Boehly, was said to have welcomed the idea of signing Neymar from PSG but was later told the Brazilian is not for sale.
As a result, the report says thatChelsea have turned their attentions to other targets Leao and Russian Zakharyan.
Leao, a 23-year-old Portugal international, impressed in Italy last season and is believed to be keen on a move to the Premier League.
Russian star Zakharyan, meanwhile, scored seven goals and claimed eight assists last season, attracting interest from a number of clubs from across Europe.