Last week, Chelsea confirmed the signings of Ben Chilwell, Thiago Silva and Malang Sarr, and are expected to finalise the signing of Bayer Leverkusen's Kai Havertz imminently, with an announcement expected anytime this week.
However, Lampard has urged the club not to stand still, and bring in two more players, who would complete the squad.
West Ham United's defensive midfielder Declan Rice and AC Milan goalkeeper Gianluigi Donnarumma are players that Lampard is keen to add to his squad before the start of the new Premier League season.
According to the Sun, Rice has been earmarked as the top target for the rest of the window. It is reported that Lampard has been impressed by the West Ham man, and his ability to play both at centre-back and in midfield is said to be a tempting prospect.
Chelsea look to sign Rice and Donnarumma
However, right now, West Ham are refusing to budge on their stance of not being willing to sell the England international, but Chelsea are willing to play the waiting game.
Chelsea reportedly believe that West Ham eventually agree to sell Rice, if they are not able to sell some other first team players.
Thiago Silva will turn 36 soon, and Malang Sarr is expected to be loaned out, so Lampard believes that Chelsea need cover in the centre-back area anyway.
In addition, Lampard is also said to want AC Milan goalkeeper Donnarumma, as he has decided that current no.1 Kepa Arrizzabalaga has no future at the club.
The Daily Star are reporting that a possible swap deal was being mooted, with Kepa going to AC Milan initially on loan, with Donnarumma moving to Stamford Bridge, but that has not materialised.
In order to fund these two moves, Chelsea will have to sell some of their existing first-team players, with the likes of Tiemoue Bakayoko, Michy Batshuayi and Emerson Palmieri all up for sale.
Chelsea have already sold Mario Pasalic to Atalanta in the summer window. It has been a summer of big spending for Chelsea, with five signings already confirmed. Timo Werner and Hakim Ziyech have already made their bow in a friendly against Brighton, while Chilwell, Silva and Sarr are expected to be joined by Havertz soon.Published 31 Aug 2020, 15:30 IST