Carlo Ancelotti has conceded that this season will only be deemed a success if Chelsea regain the Premier League title ahead of the anticipated summer of upheaval among the playing staff at Stamford Bridge.

The Chelsea manager met the owner, Roman Abramovich, and the director Eugene Tenenbaum at Cobham this week to discuss transfer policy and will continue to formulate his strategy for the close season over the final month of the campaign. While Abramovich would be willing to bankroll a major signing, at an appropriate price, it appears that Ancelotti, too, is increasingly reluctant to spend heavily in a market likely to be distorted by Manchester City's limitless funds.

The Italian made a point yesterday of insisting the only certainty will be that a quintet of academy graduates brought to the club by the sporting director, Frank Arnesen, will be regular members of his senior squad next term. The involvement of Gaël Kakuta, Jeffrey Bruma, Nemanja Matic, Fabio Borini and Patrick van Aanholt will have implications on the likes of Juliano Belletti, Michael Ballack, Deco and Joe Cole, all of whom are out of contract in the summer, as well as other ageing players such as Paulo Ferreira and Ricardo Carvalho.

"The only sure thing will be that, next season, there will be five players from the academy in the [first-team] squad," said Ancelotti. "Some other players will move on. It's not because we don't have the money [to compete in the transfer market] but because we want to give strength to our academy. We have very good young players and this is the time to put them in the squad for next year. They are all able to be members of Chelsea's first-team set-up."

Asked whether the club's supporters would be satisfied to enter next season without the addition of at least one big‑name signing, Ancelotti added: "They'll be happy if Chelsea win the title and the FA Cup. After that, I think they will see some new players in the future. I've seen Kakuta in the Champions League and the fans were very happy then. Kakuta is a 'new player'. They will see new players. The most important thing is that they don't desire to see a new coach. Do we need to win the league to make this a 'successful season'? Yes, we have to win it. At this point of the season, we have to win it."

There is an understandable reluctance at Chelsea to match the potential level of spending at City – for whom money will, again, be no object this summer – which is likely to price the Londoners out of a move for Liverpool's Fernando Torres. Roberto Mancini spoke openly about his desire to sign the Spaniard this week. "If he wants Torres, I think he's a very good striker, a good choice," said Ancelotti. "We have [Didier] Drogba and [Nicolas] Anelka, and that's enough for us. A team has to take the players they feel they need."

Yet there is also an acceptance that the team's forward ranks will need energising. Franck Ribéry's recent off-field travails could dissuade Chelsea from seeking to bring the Bayern Munich winger to the Premier League, and Atlético Madrid's asking price for Sergio Agüero – in excess of £40m at present – will have to be dropped to nearer the £30m mark for Chelsea to seek a deal. Further options would be Wolfsburg's highly rated forward Edin Dzeko and Alexandre Pato of Milan.

Further meetings between manager and owner will take place over the remainder of the season, while no formal decision will be made on the futures of those out-of-contract players until after the end of the campaign. "That is not dependent upon us winning the league," said Ancelotti. "We are involved in important competitions at the moment, but we will take a decision at the end of the season. We have time. The season finishes on 15 May and they are under contract until the start of July. So we have two months to make decisions on their contracts."

The league leaders will consider handing Ashley Cole his first start since he broke his ankle at Everton in February against Stoke City tomorrow as they look to maintain their narrow advantage at the top of the table.

His return offers both club and country a timely boost, with the Chelsea manager insistent the full-back is "100% fit and focused on playing football, nothing else" following problems recently in his own private life. John Terry is suspended against Stoke – "a big miss," according to Ancelotti – with Mikel John Obi injured and Michael Essien out for the season. The Germany coach, Joachim Löw, will be at Stamford Bridge where he is expected to talk to the national team captain, Ballack, about his plans for the World Cup.