LONDON (AFP) - Chelsea chief executive Peter Kenyon insists Frank Lampard will not be allowed to leave the Premier League club before the end of his contract - even if they can't persuade him to sign a new deal.

Lampard has been unable to agree an extension to his contract, which expires at the end of next season, with Chelsea reportedly unwilling to meet his demand for a five-year deal.

Inter Milan manager Jose Mourinho is keen to take advantage of the situation and lure Lampard to the San Siro. But Kenyon confirmed Chelsea had rejected an offer for 7.95 million pounds (9.9 million euros) from the Italian champions and he is adamant there is no chance Lampard will be sold.

"The situation is ongoing. We have always maintained that we want Frank to stay and an offer was made to that effect," Kenyon said.

"That offer is still on the table. Frank is under contract and he still has one year to run on that.

"We'd like to hope we can reach an agreement but if we can't we have always worked on the basis that Frank sees out the terms of his contract.

"Chelsea has made its position very clear to Internazionale and they have come back now with a financial offer. That will be rejected."

Even if Lampard does stay, there will be plenty of departures from the Bridge as Scolari cuts his squad from 32 players down to 25. Steve Sidwell is set to join Aston Villa, with Claudio Pizarro, Tal Ben Haim and Shaun Wright-Phillips among the other likely sales.

Kenyon admitted a smaller squad was important because it would allow Scolari to blood some of the club's youth academy graduates.

"Players will be leaving such as Steve Sidwell and some joining, either new players or those coming up from the academy, so we will be closer to the ideal figure," he said.

"Felipe has made that very clear that he is prepared to give youth a chance, and that has got to be positive and a great incentive for the academy.

"He has a track record in his previous jobs of doing that and there are a lot of top players now who were given their chance by him as youngsters either at club or international level."

Scolari has taken charge of a club completely transformed from the one Russian billionaire Roman Abramovich bought in 2003. Kenyon believes Abramovich's desire to turn Chelsea into a global force has revolutionised the Premier League.

"Obviously in football terms it has been the most successful period in terms of trophies in the history of the club, back to back Premier titles, cups and a first ever Champions League final, the duopoly of Manchester United and Arsenal was broken and we have attracted some of the world's best players to Chelsea and therefore to the Premier League," Kenyon said.

"The most credit for those achievements has to go to Roman because without him it's extremely unlikely any of it would have been possible.

"If you look at our main rivals they have also had to respond to Roman and Chelsea's situation and they have needed to analyse what they do, so overall things have become more competitive and that can only be a good thing for the Premier League generally."