Chairman of clubs struggling at the wrong end of the table, or failing to meet expectations, might be tempted to bring in the highly rated former Chelsea boss to solve their current woes.
Lampard is already a strong favourite with bookmaker Paddy Power to claim the hotseat at a host of clubs in Europe.
Planet Sport takes a look at where the former England midfielder could end up.
Celtic - 6/1
The prospect of Lampard locking horns with his old England teammate and current Rangers manager Steven Gerrard in the Scottish Premiership has many licking their lips.
Celtic are way off the pace in the SPL title and current manager Neil Lennon is under enormous pressure at Celtic Park.
Lampard has no connection with Scotland or Celtic, but a Lampard v Gerrard Old Firm derby is an intriguing prospect.
West Ham - 5/1
Lampard came through the ranks at the West Ham academy and played over a 140 games for the East London club. However, his departure for Stamford Bridge in 2001 was acrimonious and he is still taunted by West Ham fans.
West Ham are currently performing above expectations in the Premier League under manager David Moyes, but time is running out on the Scotsman's contract.
Moyes is currently in the final six months of his existing 18-month contract, which he signed in 2019.
West Ham owners David Sullivan and David Gold have been dragging their heels on extending his current deal. Maybe they are pondering a move for Lampard's homecoming?
Newcastle - 17/2
Steve Bruce's popularity with the St James' Park faithful is at rock bottom.
Newcastle are currently on an 11-match winless run under Bruce, though owner Mike Ashley has yet to be swayed on giving Bruce his marching orders.
Lampard could be an interesting change of direction for Newcastle, who have been playing an uninspiring form of defensive soccer this season.
However, Lampard has no experience of managing a club in a relegation dogfight, and has already fallen foul of a powerful headstrong owner.
Rafa Benitez is the popular choice to rejoin Newcastle, but his return looks unlikely until Ashley sells the club. Although that won't happen until the Saudi-backed takeover is resurrected.
Crystal Palace - 11/2
Another team in a bad run of form and starting to look over their shoulder at the clubs beneath them in the Premier League.
Current manager Roy Hodgson has done a brilliant job at Selhurst Park during his three-year tenure, leading Crystal Palace to their best points haul in the EPL in 2018/19.
However, Hodgson's contract expires at the end of this season and as the oldest manager in the Premier League, at 73, many have hinted at his possible retirement.
Perhaps a move to director of football at Crystal Palace for Hodgson, mentoring Lampard as manager could be on the cards?
England - 12/1
This all hangs on England's success or failure at this summer's delayed European Championships.
Success will keep Gareth Southgate in the job for another tournament, if he wants it. Failure and his head will roll and the vacant England post will be up for grabs.
Although seen as a poison chalice by many, the England job could be a good stepping stone for Lampard to return to top club management in a few years time.
England have a crop of talented youngsters at their disposal and Lampard could be the man to nurture them into a world class team.
Return to the MLS
The 2021 MLS season is due to start in early April and currently all the team's head coaches are in place. However, that could quickly change and Lampard could be an appealing appointment for any MLS club.
He had a successful stint as a player at New York City, is a big draw for top players and is a marketing person's dream. He'd also be following in the footsteps of England teammate Phil Neville at Inter Miami. What's not to like?
Perhaps the new MLS franchise teams might want to take a gamble on a high-profile British manager. Charlotte FC, who will join in 2022, Sacramento Republic and St Louis City, scheduled for 2023, will all want to make a big impact. A big name manager might just do that.
(all betting odds with Paddy Power)