Lampard continues to have admirers behind the scenes at Crystal Palace, who need a new head coach as Oliver Glasner is leaving.
The level of Palace's interest will become clearer in due course as the club accelerate their efforts to identify Glasner's successor. Departing Bournemouth boss Andoni Iraola, former Nottingham Forest manager Sean Dyche, ex-Spurs boss Thomas Frank, Lens head coach Pierre Sage and Ipswich's Kieran McKenna are among other possible contenders.
Moving to Selhurst Park would allow Lampard to return to London, as would the Fulham job.
The Craven Cottage side are still to confirm whether head coach Marco Silva is renewing his contract. As it stands, the Portuguese is due to leave at the end of the season when his existing deal expires.
Given his Chelsea connections, taking over at Fulham may require extra emotional consideration from Lampard.
But, like Palace, the west London side are an established Premier League outfit that can provide a stable platform for Lampard. Now he is back in the top league, he will want to stay there.
Then, of course, there is the Chelsea vacancy - though Lampard's former club appear to be focused on others, with Iraola and Silva among their current targets.
Bournemouth were also linked with Lampard after confirming Iraola's departure - but the Cherries have confirmed Marco Rose is replacing the Spaniard.
Should any club formalise their interest in Lampard in the coming weeks, compensation is likely to emerge as a factor.
Doug King - the club's owner and chairman - appears relaxed.
Speaking to BBC CWR, King said: "Everybody is going to get linked with everything. It's a merry-go-round. It's a bit disappointing clubs are appointing three or four managers a season.
"You can see how emotionally connected [Lampard] is with the city, you can see what it meant to him to get promotion and then the title and I think he's found a happy place at the moment.
"It doesn't mean there's not going to be some staggering bid for him in the summer and he'll have to make his choices, because he's shown his credentials as a high quality head coach, but I'm not going to comment on that, I can't control it.
"I just think he's happy, I'm happy, everybody's happy, we've just got smiles on our faces and we don't worry about what may or may not happen for the head coach."
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