The 34-year old Chelsea midfielder has been heavily linked with MLS recently and Garber is hoping he decides to head to the rapidly-growing competition, perhaps as a replacement for David Beckham at reigning champions LA Galaxy.
"Frank Lampard's a great player. He has a great history with the sport," said Garber.
"If he decides he wants to play in Major League Soccer, I'm sure any club would be happy to have him on their roster.
"Frank would probably fall in the 'Designated Player' category," Garber added.
"That's a discussion that starts with ownership at the local level, and the league certainly would be involved at some point.
"But a local team owner would have to decide that they would want him on their team."