Chelsea legend Frank Lampard has offered to take a £100,000-a-week PAY-CUT to stay with the Blues - but has still been TURNED DOWN. The Daily Star says Blues chief executive Ron Gourlay was informed Lampard would be willing to settle for a new contract worth £50,000-a-week - a massive 66 per cent less than his current deal.

The proposed deal would include extra incentives, based upon his appearances and goals.

But despite the attempt by the desperate England midfielder to save his Chelsea career with a cut-price offer, Blues owner Roman Abramovich still insists he will leave in the summer, when his current deal expires.

Lampard has been told he can quit during this month's transfer window, but only for a club abroad.