The club has money from the sale of Eden Hazard to Madrid, but recorded a pre-tax loss of £102m in their last set of financial accounts.
However, Lampard wants to strengthen his squad having chosen not to do so in January, despite having their FIFA transfer ban reduced on appeal.
The Stamford Bridge outfit can bolster their budget, by offloading several players now deemed surplus to requirements.
They include Tiemoue Bakayoko, who is on loan at Monaco, Marcos Alonso, Emerson Palmieri, Michy Batshuayi and Davide Zappacosta.
Lampard is also keen on signing Leicester City left-back, Ben Chilwell and Lyon’s Moussa Dembele.
RB Leipzig’s Timo Werner and Arsenal’s Pierre-Emerick Aubameyang are also under consideration.