Chelsea boss Carlo Ancelotti has insisted he will not jump head first into the transfer market following the suspension of the Blues' transfer ban.

The Court of Arbitration for Sport decided on Friday to suspend the club's FIFA-imposed transfer ban until their appeal has been heard, giving the Italian the green light to spend, spend, spend.

However, the former AC Milan boss has insisted he happy with his squad and is in no rush to replace his African Cup of Nation stars.

"Now, thanks to this decision we have time to look for new players," Ancelotti told skysports.com.

"But we don't want to take a decision in this moment. At the moment, I'm very happy with the squad, these players, and it's not necessary at the moment to take new players.

"I know we will lose four in January but if we maintain the players' fitness we can do a good period also without the African players."

The Premier League table toppers will be without the influential quartet of Didier Drogba, John Obi Mikel, Salomon Kalou and Michael Essien, who could all be missing for up to a month in the New Year.

However, Ancelotti appears wary of club's pushing up their asking prices for players, with the club's urgency for new recruits well-documented.

Chelsea were originally banned from the transfer market until January 2011 but now look set to table big money bids for Atletico Madrid star Sergio Aguero and Benfica winger Angel Di Maria in the winter window.