Frank Lampard, who was fired by Chelsea less than two years ago, seems likely to be appointed interim manager until the season's final match.
Lampard has been out of his element since January when Everton laid him off after barely a year in charge.
The former Chelsea and England player initially led the team from July 2019 to January 2021 before Thomas Tuchel replaced him.
Graham Potter, Tuchel's substitution, was sacked on Sunday.
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Chelsea is 11th in the English premiership and drew 0-0 with Liverpool on Tuesday, with Lampard, 44, in attendance.
After investing a total of £550 million on fresh recruits this season, the Chelsea squad trail the top four by 14 points.
They play Wolves in the English Premier League on Saturday before taking on Real Madrid in the grand opening leg of their Champions League quarter-final on April 12.
Lampard oversaw Chelsea to the FA Cup final in his debut year after signing from Derby County.
Lampard, the club's all-time greatest scorer, managed them to 44 wins from 84 games. However, he had five defeats in his final eight league games, the same number as in the previous 23.
He was appointed manager of Everton in January 2022 after being fired by Chelsea. After nine defeats in 12 Premier League games, he was fired eight days before his first anniversary.
