Chelsea's players have denied they spent more than £100,000 on drinks at Salomon Kalou's birthday party earlier this week.
The club's stars were alleged to have spent £120,000 on drinks at an exclusive Mayfair nightclub at a party to celebrate the Ivory Coast striker's 24th birthday.
But the club and players claim the sums involved have been "greatly exaggerated".
A statement issued by Chelsea read: "Further to media reports that have appeared alleging that Chelsea players attending Salomon Kalou's birthday party on Wednesday night spent £120,000 on drinks, the club and the players totally deny the facts and implications of these reports.
"None of the Chelsea players spent these extravagant sums. Whilst many players attended their team-mate's party, it was in fact hosted and generously paid for by friends of Salomon and even then the sums involved have been greatly exaggerated.
"We are consulting our lawyers on behalf of Chelsea and the players and it is guaranteed that formal complaints will follow against those media outlets which published these false claims."
When quizzed about the behaviour of his players coach Carlo Ancelotti replied: "I don't want to control the private lives of my players."
The former AC Milan boss, meanwhile, insists Chelsea's involvement in the current transfer window is over.
The Blues have made just three signings this summer, with Ross Turnbull, Daniel Sturridge and Yuri Zhirkov moving to Stamford Bridge.
They have been heavily linked with Milan's Andrea Pirlo as well as Bayern Munich's Franck Ribery, but, as the Blues prepare for their Community Shield showdown with Manchester United Sunday, Ancelotti has confirmed there are no plans to add to the squad before the transfer window closes.
"Now we stay with the players I've got. I don't want to take other players because the squad is very competitive," said Ancelotti.
"We don't need other players and I don't expect to make any more signings before the window shuts."
Ancelotti also cleared the air over the futures of both midfielder Deco and defender Ricardo Carvalho.
Both players have been linked with a move to Inter Milan, now coached by former Chelsea manager Jose Mourinho, who also worked with the pair at Porto.
Mourinho moaned that Chelsea had made it difficult for Inter to sign the pair by increasing the size of the fee.
But Ancelotti claimed Chelsea had never considered selling the duo and confirmed they would be key assets in his squad this season.
"We never talked about selling Carvalho or Deco," added Ancelotti.
"They are important players for Chelsea. Carvalho is a very intelligent defender and Deco has a great quality. This team needs the quality of Deco. They will stay at Chelsea for this season.
"We don't have the idea to sell the players. If one player is not happy to stay with us, he has to say it to us. But at the moment nobody asked to go."
Chelsea have just two injury doubts for Sunday's game with Zhirkov struggling with a knee problem and Joe Cole still recovering from his ligament injury.