However, there are still plenty of reports suggesting the Blues' business is not done just yet, with players expected to move both in and out of west London.
Boss Jose Mourinho is preparing his side for a tilt at the Premier League title and looks to be putting together a strong squad.
Here is the latest news concerning Blues stars Fernando Torres and Petr Cech, as well as the latest reports on a possible Edinson Cavani transfer.
Chelsea are reportedly considering a move for Paris Saint-Germain forward Cavani, despite the Uruguayan's insistence he is happy in the French capital, as per French paper L'Equipe (via the Daily Telegraph): "I am sure to stay, why would I not? I'm well in Paris. I have a contract to honour. I'm calm, I'd rather be here. I feel good here. However, I know it does not depend solely on the player but also on the club."
Sources state that Chelsea have been quoted a price of £40m by PSG for Cavani and that the player is eager to move to Stamford Bridge, despite apparent public protestations that he would prefer to stay in France. There has already been preliminary contact between the London club and the player's camp, although Chelsea are still assessing the best course of action.
Cavani would certainly be a fine addition to the Chelsea side. While he has not performed at his best since his move to Paris last summer—although he still scored 16 Ligue 1 goals last season—he showed at previous club Napoli that he is one of the best in the business, as per football writer Oli Price-Bates:
Cavani has been overshadowed by Suarez and Ibrahimovic. He needs to be the main man, he was incredible at Napoli.— Oli Price-Bates (@OliPriceBates) July 14, 2014
Equally, at £40 million—£15 million less than PSG paid for him—he represents relatively good value for a player all but guaranteed to score key goals.
The arrival of Cavani would almost certainly see the inevitable departure of Torres from Stamford Bridge, with the Spaniard having endured a largely unimpressive spell at Chelsea.
However, it seems that a long-rumoured move back to the club where he made his name, Atletico Madrid, may not go through after all.
Atletico president Enrique Cerezo told Radio Marca that Torres—along with other rumoured purchases—would not be moving back to the Vicente Calderon, via Oliver Todd of the Daily Mail: "Many names have been mentioned, but none of those players, neither [Santi] Cazorla, [Jose] Callejon, Torres nor Chicharito [Hernandez] are on our agenda. If we sign another player, it won't be any of them."
This is potentially quite a blow for Torres himself with a move back to Atletico—a club where he is widely adored—seemingly an ideal opportunity for him to rediscover his form under less pressure.
However, with the return of Didier Drogba confirmed, Cavani's arrival would certainly pave the way for Torres' exit, but he will likely not be going back to Madrid.
Marca reports that Mourinho wants to offload Cech to PSG and bring in Real Madrid's Diego Lopez as a replacement, via 101 Great Goals:
The 32-year-old's long-standing starting spot at Stamford Bridge is under threat with Thibaut Courtois' return from a long-term loan at Atletico. The Belgian is seemingly the future No. 1 at Chelsea.
Mourinho did little to contradict that idea recently when he came out in praise of Courtois and said that Cech would have to fight for his spot, as per Martin Lipton of the Daily Mirror: "Petr is ready to fight for his position but Thibaut is the best young goalkeeper in the world, no doubts about that."
If Cech is indeed to be usurped as No. 1, he would be well advised to move on, as he is young enough and good enough to be a long-term starter for a top club.
Meanwhile, the likelihood of Mourinho successfully attracting Lopez from Madrid to effectively warm the bench is low, even though it was the Portuguese manager who initially promoted him during his time at the Bernabeu.