The Blues have been linked with the Lyon ace since before the January transfer window opened, and have reportedly already made a €40m bid for the former Celtic striker.
Tammy Abraham has excelled in his debut season in the senior squad, with Michy Batshuayi playing back up with Olivier Giroud.
But with the Champions League knockout rounds and a push for the Premier League top four awaiting Chelsea in the second half of the season, it’s thought the west London side are looking for another front line striker.
Dembele joined Ligue 1 giants Lyon from Celtic for £20m in the summer of 2018, but could be on the move again this winter, despite owner Jean-Michel Aulas stating this week that Dembele was not for sale.
But speaking on the latest episode of Reach PLC’s Transfer Window Podcast, Duncan Castles revealed Lampard is pushing for Lampard to snap up the striker.
He explained that Chelsea have a bumper budget for this window due to their transfer ban over the summer, but has reservations whether they will look to save most of the cash for the summer instead.
“There is interest from both of those clubs. The question I think is whether either of them will get to the level of fee that Lyon will accept in this window,” Castles said.
“I believe that Frank Lampard is keen on Dembele and pushing Chelsea to do that.
“The representation that Dembele has, which involves Pina Zahavi, an agent who Chelsea viewed a lot in recent years to do deals, I think is also something that can help this deal happen.
“Chelsea have a lot of money to spend, so they could go to a very high fee to satisfy Lyon. But I think the question is whether they are ready to do that now or whether they wait till the summer in the expectation that they can get Dembele for a lesser fee then, taking on the risk that some other clubs come in and compete for him at that period.”
Chelsea are back in Premier League action on Saturday when they host Burnley.