By Harvey Byrne

West Ham have been installed as the bookmakers’ favourites to sign Frank Lampard when he leaves New York City.

The 38-year-old announced via his Instagram account on Monday afternoon that he would be leaving the MLS side, with an announcement on his future coming “very soon.”

Now Sky Bet have made his former east London side the favourites to sign him with West Ham set at odds of 5/1, while Newcastle are some distance behind in second place at 10/1.

Fellow former clubs Chelsea and Manchester City can currently be seen with odds of 25/1.

Lampard broke through the Hammers youth academy and featured in the senior side for six years between 1995 and 2001 before leaving for Chelsea in an £11million deal.

He has since established himself as one of the Premier League’s greatest ever players, winning the title three times, while also winning the FA Cup four times and Champions League once.

The midfielder would bring a vast amount of experience to the team if he was to rejoin Slaven Bilic’s side and he also showed that he can still do it out on the pitch in the latest campaign in America, as he played in 21 fixtures scoring 12 goals and providing two assists.

In other West Ham transfer news, the Hammers have also been installed as favourites to land this £160,000-a-week ace.