Manchester United and Liverpool have spent big money in the transfer market, and Manchester City are unlikely to be shy in splashing the cash either.
Chelsea, meanwhile, are yet to complete their first deal of the summer but Lampard insists there is no need for Andre Villas-Boas to overhaul the squad.
"Manchester United, Liverpool and Man City have spent fortunes on good quality players but we are in a bit of a different situation in that we already had a very strong squad," he said.
"The manager wants to evaluate what he has got which is understandable and who knows whether we add or change, that is the manager's prerogative, but the great thing we have already is we believe in ourselves as we are.
"Whether the manager makes additions or changes or not, I think the squad is very strong to challenge.
"Whether Manchester United or any other team spends, we still believe in ourselves."
Source: Team Talk
Source: Team Talk