The London based outfit are not going to be giving Lampard a new contract as they believe that he is past his sell by date.
But reports suggest that Fergie does not feel the same way and although America and China will be coming forward with big money deals, United could offer him the chance of another couple of years at the top level.
If anything does come of this it is likely that United would offer him a 12 month contract with an option of another year should things go well.
Source: United Mad
Source: FOOTYMAD
