The pair are reunited with Edgar Street boss Richard O’Kelly, who was the long-serving assistant to former Rovers boss Sean O’Driscoll before they left the club last September.
Defender Chambers, 31, is looking to get games under his belt having recently recovered from a long-term knee injury.
Baxendale, a 19-year-old attacking midfielder, recently completed a loan spell with Buxton in the Evo-Stik League Premier Division.
Hoffenheim have reportedly informed Newcastle United they must break their transfer record to acquire striker Andrej Kramaric.
Leicester have made an offer of around £20million for Norwich midfielder James Maddison.
Javier Pastore appears destine for a summer exit from Paris Saint-Germain amidst rumours Roma have entered the race for his signature.