This may have been said previously I haven't read back but think this could actually have been the best transfer window Chelsea could have asked for - and actually being forced into this situation will be so beneficial in the long run.
You have a chance to clear out players, either ageing, ineffective or otherwise, and really take stock of what you have in the young players at the club. Something that just wouldn't have happened otherwise. You've got an incredible youth system - have done for many years - and a lot of talented players just waiting for a chance.
You've also now got the prime opportunity to bring in a manger that bleeds Chelsea, in a situation that allows him the time to grow and develop with these young players that in no other situation he would have got at your club.
Whilst there are certainly deficiencies in the squad, you have a chance to find out properly where they are, whilst gaining Champions League income, and being able to keep it aside to spend next year when you have a better idea of what you actually have to work with. For most clubs this would have been a disaster but I actually think long term this is a real positive for you. Finishing 3rd last year was absolutely critical though and now allows you the opportunities I've just described whilst having the cushion of huge financial reward.