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The Court of Arbitration for Sport (CAS) has now lifted the transfer ban placed on the club by FIFA.
According to The Telegraph, Chelsea are bracing themselves for a stunning £150m spending spree in January.
Lampard is said to be an admirer of Leicester City defender Ben Chiwell, and the Blues have also been linked with Wilfried Zaha, Jadon Sancho and in-form RB Salzburg striker Erling Haaland.
Lampard has now revealed that the club has worked on transfer targets and have people working in that department.
The Chelsea boss said: “Now that we know, starting from today there will be conversations had. We have a scouting department – we have people working on this all the time, whether the ban was here or not.
“It’s not now everyone will just run to their computers and start Googling the best players we can buy! We’re always ready to move forward so it’s part of the big picture. It’s the club’s decision, of course.
“As I mentioned before, I have a really good relationship with the owner and with Marina [Granovskaia, transfer director]. I respect that relationship on their side and I respect what Roman Abramovich has done for this club because I’m part of it.
“Without him, I wouldn’t have a lot of the things that I’ve done in the game. I just put forward my case on a working level of what I think will improve us and, hopefully, we’ll make the move from there. But I’m respectful of how the club works.
“Every big team buys. In the competitive nature of the Premier League and where we’re at, look at what Manchester United have spent in recent years and Manchester City, and now Tottenham last summer – and Arsenal.
“But at the moment we have managed to utilise a lot of hard work that has gone into the academy over the last 15 or so years and that’s great to see that coming through in one go. That’s changed our picture slightly but we still want to improve if the opportunities are there.”