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There has been more speculation linking John Terry with a move to Derby County.

According to reports, Terry will be reunited with former Chelsea and England team-mate Frank Lampard at Pride Park.

It was announced that the 37-year-old would be leaving Aston Villa this summer, shortly before Lampard was a appointed Derby manager.

At his unveiling on Thursday, Lampard was asked if he would be looking to sign Terry.

"I haven't even got that far and I haven't even had a conversation with John," he said. "That's the truth – I got a text message off him this morning (Wednesday) but he's on holiday.

"I'll look at it as a big picture – that's how I'll get out of that question!

"There are conversations on-going across the board, that isn’t one of them. These conversations start now. John’s had a great career, but we’ll concentrate on what we want to do here.

"We spoke, but pre this (being appointed at Derby).

"I have had conversations with him this season about how he was getting on, and about the Championship. He has told me bits. He will definitely be there for me. We are close."

Now the Daily Star is reporting that Terry has already agreed to link up with Lampard at Derby for another season in the Championship.

Terry was said to be on wages of £60,000 a week at Villa.

Rams chairman Mel Morris, meanwhile, has spoken of the need to cut costs, including the wage bill, in order to comply with Financial Fair Play regulations.

"It's impossible to spend at the level we have year after year after year," said Morris.

"FFP (Financial Fair Play) is very real, we take it very seriously, and we've been a big advocate of FFP.

"So it's time to bring our house in order in that regard."

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On that subject, Lampard said: "Let’s not get too negative about it. It’s a strong budget, let’s give credit to Mel (Morris) and the club for what we’ve got here.

"It would be remiss of me to lean on that as an excuse. We have to work with that.

"The test for us is to get the balance of the squad, and the test for me and the staff is to show it on the pitch.

"That’ll be the thing which will define us."

Terry is the clear 4/9 favourite to sign for Derby, according to Sky Bet. He's 9/1 to join any MLS club and 10/1 to join Rangers.