Roberto Di Matteo has admitted there is a real danger of Chelsea allowing Ashley Cole and Frank Lampard to leave against his wishes.
Di Matteo acknowledged there was an increasing risk of two of the Blues' all-time greats effectively quitting Stamford Bridge in January, with no sign of either agreeing a new deal with the club.
Reports suggest billionaire owner Roman Abramovich is refusing to offer either of the 30-somethings more than a one-year contract to replace those which expire next summer.
There would be no shortage of suitors for Cole, who has arguably been the world's best left-back for most of the decade, and has previously been linked with the likes of Real Madrid and Paris Saint-Germain.
The former Arsenal star is reportedly even refusing to rule out a second high-profile defection by joining Manchester United, who have long been in the market for a new left-back.
Lampard, meanwhile, is on the radar of Major League Soccer, as a possible big-name replacement for David Beckham.
Di Matteo wants Cole and Lampard, who are free to sign pre-contract agreements with rival clubs in January, to stay and has repeatedly insisted they have many more years at the top.
But he confirmed he was powerless to intervene in contract negotiations beyond recommending that the players form part of his future plans.
Asked if he was worried about what could happen in January, Di Matteo said: "Yeah, but that's the world of football.
"That's how you live in this world, in this industry.
"We had the same last season with some players and, at the end of the day, we all have to be professional and try to do our best, even though maybe the contract is not sorted out."
Chelsea failed to reach agreements with Didier Drogba and Salomon Kalou over contract extensions last season and watched both quit the club in the summer.
Di Matteo was opposed to a blanket ban on offering players over 30 anything longer than a one-year deal, saying: "You would have to look at it individually, every player, depending on the history and the physical condition of every player."
And he had no doubt Cole fit the bill, hailing the defender as "absolutely", "certainly" and "no doubt" one of the best left-backs around.
He added: "He's a fit boy. He can play every game, so he still has many years in front of him."
The former Chelsea midfielder refused to say how he would have responded to a one-year contract offer when he was a player.
"That's something you would have to ask Ashley himself or the club," he said.
"These negotiations between those two parties. My point is that I would like him to stay here and be here with us."
If Cole and Lampard were at United, Sir Alex Ferguson would almost certainly have the final call on the length of contract they were offered.
Di Matteo, who pits his wits against Ferguson for the first time as Chelsea boss tomorrow, insisted he was "not frustrated" at being denied the same power.
"Ferguson is probably an exception in the way he's been able to stay with one club and be so powerful at this club," he added.
"If you look at Europe, our model is probably very common, maybe not so much in England but on the continent it's very much like this.
"More and more clubs are appointing sporting directors and technical directors. So I think that's probably the way it's going.
"It's nothing new in Europe but, probably in England, it's a little bit of a novelty."
Meanwhile, Di Matteo confirmed John Obi Mikel was in talks over a new contract, amid reports the midfielder would be offered a five-year deal.
He also insisted there was no chance of John Terry not seeing out the remaining two years of his Chelsea contract, branding reports linking the club's captain with Valencia "nonsense".
