Chelsea have to offer Jose Mourinho a £12m-per-year contract, Frank Lampard a one-year extension and earn Champions League qualification, to facilitate the Portuguese tactician's return to Stamford Bridge, according to the Daily Mirror.
Mourinho is expected to leave Real Madrid at the end of the season, as the Meringues suffered a disastrous La Liga campaign this term and also with reports of several bust-ups between the manager and players, including club icon Iker Casillas, surfacing through the media.
The former Chelsea boss has made no secret of his desire to return to the Premier League and is now widely expected to replace the Blues interim coach Rafa Benitez, especially after Roman Abramovich lost out his top managerial candidate Pep Guardiola to Bayern Munich.
It is also understood that Benitez, who has failed to win over the supporters, would leave the club at the end of the season, even if he guides them to FA Cup and Europa League glory and also Champions League qualification. That would leave Mourinho in the clear to make a sensational return.
However, the report claims Mourinho wants Chelsea to meet three major demands, if he is to take charge at Stamford Bridge again. The 50-year-old, who earns £10m-a-year at Real, would hold out for a raise on his salary and also wants the club to offer midfield veteran Lampard a new contract.
Lampard, who has scored 12 goals from 23 Premier League appearances this season, will become a free agent in the summer. Mouriho remains an ardent admirer of the England international and had tried to sign the player, while he was in charge at Inter Milan.
The move also rests on whether Chelsea earns qualification for the Champions League next season, as Mourinho is not willing to join a club that is not part of Europe's top tier competition. The Blues are currently third in the Premier League table but just two points clear of fifth-placed Arsenal.
Mourinho had won two Premier League titles, an FA Cup and two League Cups during his first spell at Chelsea. Big-spending French side PSG have also been linked with a move for the Portuguese.