Despite the scrutiny Lampard is facing, Flo says he is "definitely the right manager" and hopes he's given at least the rest of the season to turn things around.
He told Bookmakers.co.uk: "Yes, the results have probably not been as good as we would have liked lately, it's been up and down, but it's such a strange season – we've seen many clubs doing really well and then suddenly fall, and vice versa.
"Chelsea are no different and I really hope that Frank gets the whole season to prove himself and stay on to build what I think can be a very good team.
"I think the aim should be to get a Champions League place for next season, so a top four finish would be a success.
"It looks unlikely that Chelsea will win the league, unless they go on a really good run and others stumble, so I think realistically another top four finish would be a good result.
"They could also go far in the Champions League as well which would be really important for the club and also for the fans.
"A run in Europe could really show that the club is on its way back to former glories."