So this seems like a bit of a u-turn, although a welcome one. After months of speculation and slowly dwindling hope of any progress, The Telegraph broke news a couple hours ago of Frank Lampard agreeing to a one-year contract extension, similar in scope and idea to the one that Ashley Cole signed earlier this year.
Frank Lampard is understood to have agreed a new one-year deal to remain at Chelsea next season, ending speculation over the future of the club’s record goalscorer in a move that will also appease supporters. An announcement will be made shortly.
-Source: The Telegraph
Well, I guess we'll know for sure if any such announcement is made, but if true - and Lampard's "lowered [...] financial demands" are true as well - I think we can all agree that this is a fantastic bit of news for the club, the fans, and the man who is expected to captain Chelsea in Wednesday's Europa League final.
Jason Burt also brings up Frank's quotes from yesterday in support of this "understanding," in which the club's leading scorer sounded optimistic about his future stay at Stamford Bridge:
That was the one time when I was close [to leaving]. It’s turned out to be the right decision [not going to Inter, in 2008]. I am fortunate to be here.
There are certain players, when you look at the Steven Gerrards, people who have been at clubs a long time, you sort of associate them with it. I think there is a few players here now you feel the same about, particularly me, John Terry, Ashley Cole and Petr Cech. I am quite proud to be in that position.
I always used to sign five-year contracts and that is different now – but that is just the way it is.
-Frank Lampard, The Telegraph