Chelsea are understood to be monitoring the situation but Newcastle are also interested.
Areola has three years left on his contract at the Parc des Princes but will be allowed to leave for the right fee with sporting director Leonardo looking to raise funds for a summer spree.
Chelsea have already been busy ahead of the summer transfer market with deals for Hakim Ziyech and Timo Werner secured.
And Lampard is also looking to bring in Kai Havertz and Ben Chilwell while a centre-back is desired in addition to any new goalkeeper.
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