Guardian writers' prediction: 2nd Odds to win league: 2-1
A year on and nothing has really changed at Stamford Bridge. Some 12 months ago, Chelsea reacted to a campaign that had seen two managers come and go, and both European and Premier League aspirations ultimately frustrated, by embarking on a new term hoping their latest ambitious appointment in the dug-out would provide the stability and success they had long craved. For Luiz Felipe Scolari in 2008, now read Carlo Ancelotti in 2009.
The Italian, like the Brazilian, is not yet armed with wholly convincing English as he flings himself into his first job in the Premier League. And, like Scolari, he has had nothing but platitudes from players apparently taken by his initial training techniques and tactical gameplans. From now on in, Ancelotti must attempt to shed the comparisons with a manager who lasted barely seven months in the post.
Yet the potential is there for the new man to succeed. Guus Hiddink proved as much in a brief yet scintillating spell in charge over the last three months of last term which served to remind this squad of their considerable capabilities. The Dutchman's achievement in securing the FA Cup – the club's first silverware in two years – caught the eye, but there is still simmering resentment in west London that they were denied passage beyond Barcelona in the Champions League semi-finals, and their league record should not be ignored. Hiddink secured 34 points from his 13 games in charge, with a rip-roaring win at Arsenal en route.
Maintaining that momentum will be Ancelotti's main aim. The Italian has, as yet, been denied the "marquee signing" both the owner, Roman Abramovich, and the captain, John Terry, had been seeking, yet there is still enough ammunition in the squad to sustain a challenge. The Italian intends to employ a midfield diamond – a system that failed under Jose Mourinho – which will liberate Frank Lampard. Unlike Scolari, he will benefit from the energy of a fully fit Michael Essien and a focused Didier Drogba, with Yuri Zhirkov – recommended by Hiddink – a potentially eye-catching addition on the left.
The team should retain a certain solidity. The resolution of Terry's long-term future at the club after Manchester City came calling and, eventually, were rebuffed provided relief. There will be relish at the prospect of the England captain resuming his central defensive partnership with Ricardo Carvalho, another who started the summer unsettled and has now accepted he is to stay. The likes of John Mikel Obi, Florent Malouda, Michael Ballack, Joe Cole, Drogba and Ashley Cole have or are about to sign new deals to extend their stays at the club. This should be a settled dressing room and first impressions suggest Ancelotti, an excellent man-manager, and his assistant, Bruno Demichelis, of the celebrated Milan Lab should keep spirits high.
It will help, too, that the political manoeuvring behind the scenes that had proved so unsettling in recent seasons should also be a thing of the past. Abramovich had wanted Ancelotti in charge last summer only to end up recruiting Scolari. He has his man now and appears enthused and committed to the cause. Frank Arnesen, the chief scout and director of youth development turned football board member and sporting director, finds his position more secure than it has been for years.
Bizarrely, the fact that Chelsea will begin the campaign having lost the tag as the division's big-spenders – City having taken up the mantle – may also ease some of the more unrealistic expectations. Yet there is nothing to suggest they will not be contenders. They have drawn encouragement from the reality that Manchester United, the team they have been chasing, have lost Cristiano Ronaldo and Carlos Tevez. Chelsea may be an ageing squad, but they retain their quality and their thirst to regain the Premier League title and secure their first European Cup. Ancelotti must hope he is the man to deliver them.
In: Daniel Sturridge (Manchester City, fee to be determined by a tribunal), Yuri Zhirkov (CSKA Moscow, £18m), Ross Turnbull (Middlesbrough, free)
Out: Franco Di Santo (Blackburn Rovers, loan), Jimmy Smith (Leyton Orient, free), Ben Sahar (Espanyol, £1m), Frank Nouble (West Ham, nominal), Ryan Bertrand (Reading, loan), Tom Taiwo (Carlisle, loan), Lee Sawyer (Southend, loan)