FRANK LAMPARD has been given a take it or leave it contract offer by Chelsea.

But the package falls short of the England midfielders pay demands and will only increase specualtion over his future at the club.

Lampard is keen to stay at Chelsea but feels his service over the past seven years means he should be the clubs highest-paid player.

Skipper John Terry currently holds that honour on £130,000 a week with Lamps on around £100,000.

Lampards advisors talked with Chelsea chief executive Peter Kenyon over the last 24 hours. But the clubs new offer came nowhere near what they want.

The Blues insist they will go no higher and have given the £11million buy from West Ham star just a few weeks to consider their proposal.

Lampard, 29, has only one season to run on his current contract and Chelsea dare not risk losing him on a Bosman free next summer.

The all-action midfielder is wanted by a cl**tch of top European clubs including Italian champions Inter Milan.

And he has seriously been considering his future recently.

The death of his mother, Pat, last month has totally changed his outlook and Lampard is keen to stay but only if Chelsea can meet his terms.

Lamps has been genuinely touched by the show of support from Chelseas hierarchy during his bereavement and it has helped heal a rift with boss Avram Grant.

The pair had a bust-up in the run-up to Februarys Carling Cup final defeat against Spurs.

But Grant, Kenyon and the entire Chelsea first-team squad paid their respects and turned out at his mums funeral last Friday in a show of support for the heartbroken star.