Lampard has one year remaining on his contract with the Blues and the London outfit seem unwilling to part with the England international before next summer.

The 30-year-old is said to be keen to be reunited with former Chelsea boss Jose Mourinho, now the manager at the San Siro.

As Lampard only has one season remaining on his contract he is allowed to buy out the remainder of his contract and force the move.

A statement on the Chelsea website read: "We have informed Inter that we will not enter into any discussions regarding the transfer."

Inter reportedly only offered GBP 6.5 million for the midfielder, a reflection of the time remaining on his deal with the Blues.