The Mirror says Cole is expected to have a medical on Monday and sign a short-term contract until the end of the season for little more than the £10,000 a week he was earning in LA. And for Lampard it's a win, win situation for the pair.
Derby will get the most ultra-professional 38-year-old and Cole will be given the chance to take the first steps in what he hopes will be a coaching career every bit as distinguished as his playing days.
Lampard said: “Some of the way the media painted him was out of order. Anybody who knows Ashley Cole knows he's polite.
“He's a family man, he adores the people around him.
“He trains diligently every day. He is nice to all the fans – and those things may have been glossed over in the past, but now the truth is coming out.
“If you give him one pound or £100,000 a week, you still get the same professional every day. He will turn up first to the training ground and give everything.
“He will help people around him and leave last. I understand people get obsessed with wages, but it has nothing to do with it."