Express Sport understands Chelsea are hoping to announce Lampard as their new commander in chief by the end of the week.
They will, however, have to wait until Derby find a replacement manager until they can officially appoint Lampard as their new boss.
The Rams made overtures to lure Steven Gerrard away from Rangers earlier this week but were knocked back the Liverpool legend.
Lee Bowyer and John Terry were also on the Midlands club’s radar, but both men have agreed new deals with Charlton Athletic and Aston Villa respectively.
Frank Lampard (L) is on course to replace Maurizio Sarri (R) as Chelsea boss (Image: GETTY)
Maurizio Sarri left Chelsea last weekend to join Juventus (Image: GETTY)
Chelsea are hoping to announce Lampard as their new commander in chief by the end of the week.
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Lampard’s debut season in management was a resounding success as he guided Derby to the Championship play-off final.
His lack of experience in the top-flight, however, has led many to question his appointment as Chelsea manager.
But the Blues hero’s former Chelsea team-mate Glen Johnson believes he has what it takes to bring back the glory days to Stamford Bridge.
“I think Lampard will definitely be Chelsea manager one day, and it might be sooner than I anticipated,” Johnson said during an appearance on talkSPORT.
Frank Lampard guided Derby County to the Championship play-off final last season (Image: GETTY)
Derby County want to install a new manager before letting Frank Lampard join Chelsea (Image: GETTY)
Chelsea: Frank Lampard is a 'cheap and easy fit' says Hislop
“Could he do the job? Now might be slightly too early and I’m sure Lamps would probably agree with that, but I definitely think he’ll be capable of being successful as the Chelsea manager.
“I personally think it’s too early, but I could also see it happening.
"It’s exciting.
"I actually want him to get the job, I think he’d be great there.”