Chelsea transfer news latest: Callum Hudson-Odoi, Kurt Zouma, Alvaro Morata, Ruben Loftus-Cheek, Nathan Ake

New boss Lampard was officially confirmed as manager on Thursday

Ruben Loftus-Cheek has committed his long-term future to Chelsea by signing a new five-year contract.

The English midfielder, who is recovering from a ruptured achilles tendon injury, had been linked with a move away from Stamford Bridge after receiving limited game time having returned from a good loan spell with Crystal Palace and the World Cup with England.

However, Frank Lampard's arrival and the new lease of life he will give young players at the club has prompted the 23-year-old to extend his time in West London.

"I’m really happy and pleased that I get to stay here for another five years. It’s the place where I’ve grown up playing and hopefully I’ll be playing here for a lot longer," he told the club's website.

"I hope to win a lot more trophies with the team and personally it’s just about trying to do as well as I can and work hard to be a key player for Chelsea."

Chelsea may not be able to sign players but they are certainly intent on getting young talent to sign contracts as they begin to consider offering Callum Hudson-Odoi a massive £100,000-a-week deal to put an end to interest from European clubs.

Bayern Munich have long been interested in the teenage winger, whose contract at Stamford Bridge expires at the end of next season.

Lampard and Hudson-Odoi met recently and the new manager was said to have tried to convince the English winger to stay.

Callum Hudson-Odoi may be offered a new long-term contract (PA)

Chelsea have confirmed that Spanish forward Alvaro Morata has left the club permanently for Atletico Madrid.

The 26-year-old forward joined the Spanish side on an initial loan deal in January that expires at the end of the 2019/20 season, but the agreement will become permanent when it finishes.

"We would like to thank Alvaro for his contribution and wish him the best of luck for the future," Chelsea said in a statement on their official website.

Morata scored 24 goals in 72 appearances for the Blues after joining from Real Madrid in 2017 in a then club record £57m move.

His departure leaves new Chelsea manager with just three forward options after the club opted not to keep Gonzalo Higuain. This may rule out any chance of Michy Batshuayi’s leaving Stamford Bridge as he battles to play ahead of Olivier Giroud and Tammy Abraham.

Kurt Zouma dealt Everton a blow to their chances of signing him after he expressed his joy at preparing for Chelsea’s pre-season tour.

“Happy to be back, the hard work starts now” he said in a post on social media.

The French defender spent last season on loan at Goodison Park and Marco Silva is interested in signing him again following the departure of Phil Jagielka, although it appears that Zouma is determined to make an early impression on Lampard.

Frank Lampard has revealed his plan to replace Eden Hazard at Chelsea - but he admits it's a tough task for anyone to fill the brilliant Belgian's boots.

The new manager was unveiled officially on Thursday and was asked about how he plans to cope without the club's best player a season ago.

"We were thankful that he was here," he said. "It is not one to dwell on now, he has gone, we wish him well in his career. He is a great person as well as a great player and we wish him well.

"But now it is important about what we do and it is about how to take the club forward. You lose one great player, of course, but then how do you get around that?

"You work on the team and the squad we have is already a very strong squad. We have a lot of young players, who are at a really good age who have, not just potential as they have already shown it in the first team, but have the talent, not to fill Hazard’s boots as he is very unique, but we have players in their own way who can be huge players for this club.

"Some who already are huge players and some who can get even better. My job is to get that out of them and make them even better."

And the Evening Standard claim Mason Mount is the latest player to be targeted over a long-term deal, due to his close relationship with Lampard after their time at Derby.

Mason Mount impressed at Derby last year (Getty)

With two years remaining and the potential for Mount to finally break into the first team squad at Stamford Bridge, the move is likely to benefit both parties.

Charly Musonda won't be benefitting from Lampard's arrival, just yet anyway - he's left the club for Vitesse Arnhem on loan.

Former Blues star Nathan Ake is being linked with a move to Manchester City, with the Dutch international impressing since his permanent move to Bournemouth.

In a £20m move in 2017, Dutch newspaper Telegraaf claim the Blues secured a £39m buy-back clause, but with Pep Guardiola stepping up interest, the Blues must decide whether to rival them for the 24-year-old or not.

Loftus-Cheek is also set to commit his future (EPA)

Tiemoue Bakayoko, who spent last season on loan at AC Milan, is set to return to the club, but his route into the first-team is now less clear with Kovacic’s confirmation, while Lampard is likely to favour Ruben Loftus-Cheek when the Englishman returns from injury.