Frank Lampard is ready to sign a Chelsea contract.

The London Evening Standard says Lampard, who is Chelsea's first choice for the role, is set to conclude a return to Stamford Bridge this week where he will sign a three-year contract.

Derby are reluctant to let go of a manager that guided them to a Championship play-off final in his first year in charge, and would want £4m compensation if he is to be taken away.

Chelsea are keen to bring in Lampard, knowing that he is a hugely popular choice with a fanbase who were frustrated last season by Maurizio Sarri's management despite winning the Europa League and finishing in the top four of the Premier League.

One of Lampard's team-mates at Chelsea, Petr Cech, is also due to return to the club this summer in a technical director role.