Cascarino believes that his former club could pull off the potentially record-breaking transfer of Erling Haaland from German giants Borussia Dortmund.
Reports claim that the Blues have already agreed on personal terms with the 21-year-old forward and are pushing to get the transfer in the summer.
A deal won’t come cheap for Thomas Tuchel’s side, however, the Blues are working to raise funds as they have already sold Olivier Giroud to Serie A giants AC Milan and Tammy Abraham has been also rumoured with a switch to Arsenal, West Ham United and Aston Villa.
‘Tammy (Abraham) has been rumoured to go so they’re making space. They have to do that because of financial fair play,’ Cascarino told talkSPORT.
‘Some people will say that doesn’t work, but clubs are trying to abide by the rule, and they have to move people out.
‘For them to do that, they are going to do a mind-boggling transfer, and I think it will be Haaland. Whether everyone says no, it’s next year, and that’s in his contract, Chelsea are going to offer big money for somebody, and I suspect it will be him.’
German giants themselves are close to securing the services of 21-year-old forward potential replacement, Donyell Malen, who is expected to depart from Eredivisie giants PSV Eindhoven ahead of the next season.
And Cascarino believes that his former club have to do all it takes to bring one of the best talented at the moment at Stamford Bridge.
He said: ‘Chelsea have earned a lot of money over the last year or so, Champions League and selling of Hazard. They make quite a lot of money.
‘I cannot believe they aren’t going to break the bank to get someone like Haaland. They are going to do a really big transfer in my opinion.
‘It’s been so quiet but the storm is coming. Roman has always done it. He’s always backed it up, I’d be gob smacked if they go in with the squad they’ve got today even though they are European champions, expect a really big deal from Chelsea.’.