Kenyon: Lampard will see out contract

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Kenyon also confirmed that Inter Milan's only bid so far, of £7.95 million, will be rejected by the club.

"We'd like to hope we can reach an agreement but if we can't we have always worked on the basis that Frank sees out the terms of his contract," said Kenyon.

"The situation is ongoing," he added. "We have always maintained that we want Frank to stay and an offer was made to that effect.

"That offer is still on the table. Frank is under contract and he still has one year to run on that.

"Chelsea has made its position very clear to Internazionale and they have come back now with a financial offer. That will be rejected.

"Contrary to what you may have read it is totally untrue that (manager Luiz) Felipe (Scolari) was pushing the club or putting pressure on us to change the offer to Frank.

"At no stage was he ever in conflict with the club's position or asked the board or the owner to change the offer."

But Internazionale have not given up hope of bringing Lampard to the San Siro, according to assistant coach Beppe Baresi.

"In all honesty I don't follow transfer rumours closely," Jose Mourinho's number two told Radio Kiss Kiss. "But I know that the possibility is still open."