The Mail on Sunday says leading European clubs are considering exploiting a new FIFA ruling which means the England midfielder can quit Chelsea for just £5 million this summer. And Lampard would be willing to invoke it if his employers do not come up with Chelsea at the moment.
Barcelona, the club Lampard would most like to join on account of his wife Elen coming from the city, are expected to renew their interest in the England midfielder this summer on the basis of the new ruling.
They have previously ruled out making a move for him on the basis that the asking price of £20m was too expensive but would happily pay the reduced fee.
Current coach Frank Rijkaard is expected to leave the club in the summer and there is a concerted campaign by some of the board at the club to bring in former Chelsea manager Jose Mourinho, whose first move would be to sign Lampard.
Lampard has already turned down a contract offer from Chelsea and has just one year left on his deal at the end of the season.