Frank Lampard has confirmed that he will look to start spending Chelsea’s £150 million transfer kitty if the club are told they can sign players in January.

The Court of Arbitration for Sport have announced that Chelsea’s appeal against their two-window Fifa transfer ban will be heard on November 20.

With one window already served that means Chelsea could be allowed to sign players in time for the January transfer window if CAS cut their punishment.

News of the hearing has split opinion among Blues fans, a large section of whom believe it would be better for the club to go through an entire season without any signings following the success of their young players.

But, despite guiding his team into the top four of the Premier League and top of their Champions League Group H table, ahead of Tuesday night’s visit of Ajax, head coach Lampard will try to make additions to his squad if the ban is lifted.

With Olivier Giroud and Pedro Rodriguez both running down their contracts, and Willian still yet to commit to a deal past the end of this season, Chelsea are looking at strikers and wide players. Lyon striker Moussa Dembele and Crystal Palace and Borussia Dortmund wingers Wilfried Zaha and Jadon Sancho are among the players Chelsea are interested in.

The Blues are also following Leicester City left-back Ben Chilwell, who is unlikely to be available in January, and Bournemouth central defender Nathan Ake who they can buy back for £40m. Following qualification for this season’s Champions League and the sales of Eden Hazard, David Luiz and a host of fringe players, with £58m also due from the departure of Alvaro Morata, Chelsea have at least £150m ready for transfers.

Asked how much interest he will pay to the CAS hearing, Lampard said: “Well, I’ll be very interested of course but it is a legal matter and I don’t know enough of the legals to even delve. But of course I’m interested because it’s obviously going to affect potentially what we can do in January or not.”

When it was put to Lampard that many supporters do not want the ban to be overturned, he added: “We’re on a good run, though, aren’t we? I get that and it’s a nice feeling. Of course some players have come in and shown with their opportunities they’ve been given that they can do roles and play well. We are getting results at the moment.

If Chelsea do spend, will that curtail opportunities for the likes of Mason Mount? credit: Chelsea FC via Getty

“Listen, I think as Chelsea we will always look to improve in windows if we can, if we’re allowed to and if the players we might look at are better or we feel are worth adding to the squad.

“But, at the minute, I’m very happy with what I’ve got so I suppose that’s why, hopefully, fans are as well.”

Mason Mount is one of the Chelsea academy graduates who have benefitted from the transfer ban and Lampard’s faith in him, but the midfielder is not fearful of the club being allowed to sign new players and the competition that will create - whenever that may be.

“We’ve had to deal with that [competition] during our whole time in the academy,” said Mount. “You come into a team and there’s players from different countries and you’ve got to work and show how good you are. There’s always been that competition within Chelsea. We’re all ready for the competition. It’s exactly the same now. There’s still massive competition within the team and you’ve got to fight for your place.

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“We want to win trophies. We want to be top of the League. We just need to keep working hard and when that time [the club can make new signings] comes around, then we’ll be ready for that.”

Mount laughed at the suggestion that the current crop of academy players below him would be hoping the transfer ban does not get overturned and said:

“Whatever happens, happens. We’ve shown what we can do with a ban and we’re doing well. Young players coming through have got to keep working hard and looking at what we’ve done so far. They can definitely do what we’ve done.”

Given Chelsea lost their opening Champions League group game at home to Valencia, qualification to the knockout stages would be seen by many as a great success. But Lampard has been under no illusions that getting out of Group H was the minimum requirement expected by the club, despite the transfer ban and his reliance on youth.

“After losing the opening game, which was disappointing, we have shown a great reaction,” he said. “But I have to accept it is expected of Chelsea to go through and that is no disrespect to any other teams. I have said already how hard the group is, but it is more about our own expectations.”