Arrizabalaga has struggled to find his best form since moving to Stamford Bridge for £71.6million two years ago. The 25-year-old may have played his last game for the club as Willy Caballero is expected to start the FA Cup final against Arsenal on Saturday.
Reports in Spain claim Chelsea have already made an undisclosed bid for Ter Stegen, but any move will face fierce competition from Bayern Munich, according to Cadena Ser, who say the Germans are desperate to bring him back to his homeland as a long-term replacement for Manuel Neuer.
The 28-year-old is yet to reach an agreement with Barca regarding an extension of his deal, though it is understood that he wishes to remain in Spain where his family have settled. Now entering his peak and rated among the best goalkeepers in world football, Ter Stegen's current deal will expire in the summer of 2022, after which he will be able to leave Barca on a free transfer.
The Blues have already signed Hakim Ziyech and Timo Werner, while Kai Havertz is reportedly on the verge of completing a move to Stamford Bridge. It is believed signing a goalkeeper is next priority, but of bigger concern to Lampard is how to offload Kepa, who cost the club £71.6million, and is one of the top earners on £150,000-per-week.