According to the Standard, the 40-year-old has told Derby he would like to join Chelsea if the Blues make a formal approach to appoint him next manager at Stamford Bridge.
Maurizio Sarri has quitted Chelsea and already taken over Juventus after just 1 year in the Premier League.
The managerial post is vacant now and Lampard’s arrival seems imminent now.
The Rams want to keep the Chelsea legend and are ready to hand a new long-term offer to him.
However, Lamps’ contract has a clause, which allows him to quit Derby.
Under the terms of the deal Chelsea will have to pay £4m in compensation.
According to the Daily Mail, Roman Abramovich will hold a face-to-face meeting with Frank Lampard to discuss details of the contract this week.