When Roman Abramovich took over at Stamford Bridge, he spent freely and audaciously. Chelsea's newly reformed team cruised to back-to-back titles and you began to wonder who could ever beat them over the 38-game grind.
Abramovich's goals were always more continental however, and no manager as of yet has given him the European title he craves.
Despite regaining the title last season, and looking imperious to begin their current campaign, Chelsea have slumped to third in the table and now lie 13 points off the pace.
£50m signing Fernando Torres has provided more questions than answers as to the future direction of the club. With Manchester United, City, Arsenal and Tottenham all constantly evolving for the better, a re-branding of the out-going champions is needed if they wish to keep the pace with the front-runners next season.
Let's look at the areas in which Chelsea need to strengthen if they are to get back amongst the silverware.
Branislav Ivanovic won right-back of the year in the Premier League last year, but his form has dipped this year.
The Serbian fails to provide the same width and attacking potency as Ashley Cole on the opposite flank.
The other option is Jose Bosingwa, who's failed to show he's worth anywhere near the £16.3m they paid for the Portuguese defender in 2008.
An attacking full-back is needed to galvanise Chelsea next season.
Man Utd have Nani, Arsenal have Theo Walcott, Tottenham have Gareth Bale, Man City have Adam Johnson.
Chelsea's attacking system lacks width, they rely too heavily on their full-backs and thus many attacks result in a claustrophobic tussle on the edge of the box.
If Chelsea can offer a wide option better than Salomon Kalou or Jossi Benayoun, it'll go some way to helping their prowess in the final third.
It's incredible to think, given the fact that Chelsea just teamed last year's golden boot winner with a £50m superstar, that striking options may need reconsidering.
However, Didier Drogba is aging and reportedly disconcerted, Nicholas Anelka's form changes with the weather, and Fernando Torres' current goal scoring form is broadening Liverpool fans' smiles with every passing game.
It just might be the case that Chelsea's best striking option is currently on loan at Bolton in Daniel Sturridge.
If Carlo Ancelotti doesn't see Sturridge as the man to lead his line, he may well have to delve into the transfer market once more.
I think it's too harsh to Ancelotti after two seasons in charge, but Roman Abramovich has shown his ruthlessness in the past, dismissing Jose Mourinho and Luiz Felipe Scolari in a clinical manner.
If Ancelotti fails to provide the Russian with a Champions League title this season, as it's looking increasingly likely, Ancelotti may well be shown the door.