Chelsea would have to pay Derby around £4m in compensation if they appoint club legend Frank Lampard as their new manager, reports BBC Sport.

With current boss Maurizio Sarri set to be confirmed as Max Allegri's replacement at Juventus, Lampard is the overwhelming favourite to take over.

However, BBC Sport understands Chelsea are yet to make contact with the Rams.

Lampard won 11 major honours in his 13 years as a player at Stamford Bridge.

Derby have a good relationship with Chelsea, who loaned them Mason Mount and Fikayo Tomori last season, and anticipate if negotiations do take place, they will be done so in a relaxed atmosphere.

However, as with all their coaching staff, there is a compensation clause built into Lampard's contract, which has two years to run.