The AEG chief is reluctant, however, to confirm any interest in the England ace.
"All the speculation, you guys are allowed to do that, you don't get fined," Leiweke, who is president and CEO of AEG which owns the Galaxy, told Sky Sports News. "We do!
"Chelsea is a club we have a great relationship with. We've heard of other players mentioned that are playing in Europe and we want to respect their clubs and where they're at.
"We know how it feels when suddenly a player in the middle of the league, or Champions League, gets in the eye of the storm because of the speculation he's going somewhere else, we won't do that."
Leiweke added: "When you mention the likes of Frank Lampard to me, he's one of the class acts of football. I'm a huge fan of him as an individual, a huge fan of him as a captain and a huge fan of him as a player.
"We're honoured that anyone would even speculate that Frank would want to come here, that's a good day."