Chelsea is on the brink of smashing through the £100 million mark this summer.
They have already splashed £66m on Eden and Thorgan Hazard, Oscar and Marko Marin.
Now boss Roberto Di Matteo has been told he can make at least two more major signings, according to The Sun.
Chief executive Ron Gourlay said: “We are still looking to strengthen in one or two areas.
"If the right players become available things could develop over the next couple of weeks."
Porto striker Hulk valued at £35 million has been the missing link for Blues supremo Roman Abramovich who sees him as the ideal replacement for Didier Drogba.
Chelsea have long been linked with a move for the striker, particularly last season when Andre Villas-Boas tried to make Hulk follow him to Stamford Bridge.
Villas-Boas's dismissal scuppered the plans before Christmas but the Blues' new boss Roberto di Matteo remains keen on pursuing the sale.
Chelsea's hopes appeared to take a hit when Ligue 1 side PSG made contact with Hulk's agent and indicated they would be willing to pay up to £43 million, some £13m more than the Blues had opened the bidding at.
But with Hulk having revealed he would welcome a move to England over France, Chelsea could pounce on the player who is representing Brazil at the ongoing Olympic football tournament.