GUANGZHOU, China (AFP) - Coach Luiz Felipe Scolari insisted Frank Lampard was staying with Chelsea as reports broke that the club was set to make the midfielder Britain's highest paid footballer.

"Frank is staying with us. Finished," Scolari said.

The Brazilian said speculation was to be expected during the summer transfer window, but attempted to lay the matter to rest.

"I said two days ago that Frank is here with us, training and playing very well as part of our group," he said.

"There's lots of speculation over this player and that player and until August 31 we'll have more speculation."

Lampard has reportedly been offered 150,000 pounds (300,000 dollars) a week in a blockbuster five-year deal worth 39 million pounds.

The 30-year-old is in the last year of his contract and has been the subject of feverish transfer speculation, with repeated overtures from Jose Mourinho's Inter Milan.

"The club are desperate to keep hold of Frank. They had talks with him just before the China tour which they hope will finally convince him to stay long term," the Daily Express quoted a source as saying.

"I know Frank is very tempted by the offer as it means he could potentially see the rest of his career out at Chelsea, and there is every chance he could sign."

Lampard underlined his value with a spectacular lob in Wednesday's 4-0 friendly win over Guangzhou Pharmaceutical and applauded the crowd after he was mobbed by his team-mates.