Lampard has not been able to make any signings since he was appointed Maurizio Sarri's successor at Stamford Bridge in July due to a FIFA-imposed transfer ban.
The suspension was set to include the upcoming January transfer window until Chelsea won an appeal to the Court of Arbitration for Sport:
According to Tom Morgan, Ben Rumsby and Matt Law of the Telegraph, Lampard will have £150 million to spend in the new year.
Chelsea squeezed through to the UEFA Champions League knockout rounds by beating Lille 2-1 on Tuesday:
Lampard said after the match his priority in January is to fill the gap left by Hazard when he joined Real for £89 million, per BT Sport (h/t Sam McEvoy of MailOnline):
"I think it will be very fluid, and there will be discussions from now about how we will strengthen. We lost a lot of goals and creation with Eden [Hazard] last year, in his particular position. We missed some chances [Tuesday], and we can probably push and look at strengthening in those areas."
Hazard's return last season was remarkable for Chelsea as he contributed to 31 goals in the Premier League:
Tammy Abraham's form this term—the 22-year-old striker has already netted 11 league goals—has gone some way to making up for the Belgian's departure.
But Chelsea are missing the consistent creativity Hazard provided in wide areas.
Sancho, 19, has been brilliant for Dortmund since the start of the 2018-19 season, scoring 19 goals and providing 21 assists in 46 Bundesliga appearances.
By comparison, Zaha has scored 12 goals and provided six assists in 50 Premier League appearances since the start of last term.