The long-term Blues midfielder is out of contract in the summer, but a report in the British media today suggests his deal will be prolonged for 12 months.
His contract is set to expire this summer, with question marks whether he will be at Stamford Bridge next term and opt for a bumper pay-day overseas as a last hoorah.
The Express today have stated today that the England international is set to put pen to paper on a new 12-month deal in west London that will keep him with the club next season.
The report claims that Lampard’s future will be sorted out in the next ten days and keeps him close to his current salary of about £125,000 a week.
However, if the veteran does extend his Chelsea stay, is it a good move for both parties?
Lampard has been used in a squad rotation system by Jose Mourinho this campaign, but still has started 18 Premier League fixtures.
As he gets older – he will be 36 at the start of next season – this is likely to decrease. However, the veteran still can have an influence on the side.
Lampard’s goals have dropped this term, with only five goals this term compared to 2012-13. It may well be that the veteran’s future role is more in a holding role – similar to the position that Steven Gerrard has taken up at Liverpool.
One of the key benefits for Chelsea in keeping Lampard at the club is his leadership and the strong character in and around the dressing room.
With plenty of young stars coming through the ranks, such as Marko van Ginkel, Lampard’s tutelage could also be invaluable.
For the player, a lucrative salary could be on offer elsewhere, but to spend his dwindling days at a club he has been at since 2001 seems like the right choice.