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Chelsea owner Roman Abramovich is ready to ­perform a major U-turn and re-open contract talks with Frank Lampard, writes the Sunday People.

Sunday People Sport can reveal the Blues are close to announcing the£15million signing of Spain Under-21 international midfielder Isco but they are open to the idea of long-serving Lampard staying.

After telling the club legend that he could leave, Stamford Bridge sources now insist they want to talk about a new deal.

Lampard’s representatives have yet to hear from Chelsea, but the player is keen to stay in the hope of persuading the club to offer him a two-year agreement. Lampard scored a penalty in Chelsea’s 5-1 FA Cup demolition of Southampton yesterday to go level with Kerry Dixon on 193 goals for Blues.

He is now just 10 goals shy of breaking Bobby Tambling’s club record of 202 – a mark Lampard is desperate to overhaul.

(Image: Denis Doyle)

Interim Blues boss Benitez said: “Frank is a good pro, he is doing well, he is under contract, and he is doing fine. I know they have conversations (over his contract) sometimes but the main thing for me as coach is to bring the best out of him.”

Manchester United are considering a swoop for Lampard if the Blues fail to tie him up to an extension – and QPR are willing to offer Lamps a two-and-a-half year deal.

But whatever happens to Lampard, Malaga starlet Isco is bound for Stamford Bridge.

The Spanish club need to bring in significant sums of money in January to pay a huge tax bill.

It is not yet clear whether Isco will move to west London this month or remain at Malaga for the rest of the season, possibly on a loan-back deal. The 20-year-old is an attacking midfielder who has scored six times for Malaga this season.