Chelsea manager Frank Lampard is allegedly waiting on club officials to finalise a deal for Barcelona midfielder Philippe Coutinho.

Having allowed the playmaker to join Bayern Munich on loan last summer, Barcelona are known to want to part ways with the Brazil international in order to raise funds for new players.

With Bayern having no intention of signing the former Liverpool man on a permanent basis, reports have suggested that Chelsea are regarded as the favourites to secure the services of the 27-year-old.

According to Sport, Lampard is keen for the Blues board to agree the finer details of the transfer as soon as possible.

There remain conflicting reports over the nature of the deal, with a permanent transfer for a cut-price fee or an initial loan agreement said to be on the table.

Agent Kia Joorabchian has acknowledged that Coutinho is open to a return to the Premier League.