Villas-Boas became an increasingly frustrated figure in the draw against Fulham
Chelsea manager Andre Villas-Boas has dismissed talk he will have a budget of £140m to spend in the transfer window.
The Blues trail both Manchester City and Manchester United by 11 points after the Boxing Day games.
But following the 1-1 home draw with Fulham, Villas-Boas denied he will be overhauling the squad in January.
“The story is not true. Whatever business we do, we will do it properly and quietly but we won’t do a lot and not with those amounts,” he said.
Villas-Boas has already declared his interest in signing Bolton defender Gary Cahill to bolster his squad.
Transfer-listed Brazilian centre-half Alex is poised to leave next month, but the Portuguese insists there will not be drastic changes at Stamford Bridge.
“That [£140m] is an outstanding amount of money but it makes no sense at all,” Villas-Boas added.
Emotionless derby ‘disappoints’ Villas-Boas
Manchester United moved level on points with their neighbours after a romping 5-0 win over Wigan Athletic and fourth-placed Chelsea are also a point behind Tottenham, despite having played two games more than their London rivals.
The Blues boss refused to completely give up on the championship but admitted bringing a fourth Premier League title to Stamford Bridge in eight seasons is now looking increasingly unlikely.
“There’s no big drama in terms of how we look at things. But you have to be sufficiently real,” Villas Boas said.
“We had reduced it [the gap] to seven points recently, but with City and United continuing to get the points they are getting at the moment, it’ll be difficult.
“That is the perspective we have to make at the moment: it’s difficult. It’s not impossible. You cannot say that.
“But we have to focus on our position at the moment and make a real assessment. Maybe the Premier League is over for us at the moment.
“We’d targeted the December fixtures as an ideal situation to find out what would happen in the Premier League. We continue to do that.”