Former Chelsea striker Didier Drogba says Lampard's lack of top-flight managerial experience should not be a factor.
Three of them - Chelsea loanees Fikayo Tomori, Mason Mount and Tammy Abraham - were involved in the playoff final at Wembley and could all be back at Stamford Bridge next season.
Lampard has spoken previously about his desire to manage Chelsea.
Chelsea will be keen to secure a replacement well before the first senior players return for pre-season training in the first week of July, with Lampard high on their list of candidates.More news: NCLT adjourns hearing on Jet Airways to June 20
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Chelsea's new sporting director is said to have championed Lampard for the job and urged Roman Abramovich and chief executive Marina Granovskaia to hire him.
However, the inclusion of a £3.5m clause (£4m if the club is in the Champions League) for compensation should he be poached is a decent little buffer which could be used in replacing him with a manager of similar or even better quality. Yet the opportunity to take the reins at the club he joined for £11m from West Ham 18 years ago on Friday would surely still be hard to resist.
Derby, Lampard's current employer, will not stand in his way, provided Chelsea are respectful in their pursuit and pay £4million compensation.
The goal-scoring midfielder would be well placed to work with Chelsea's crop of talented youngsters then, who would likely be handed extra first-team chances should that transfer ban be enforced.