While Gerrard is tasked with rebuilding Rangers’ Scottish title push, Lampard’s reported new gig would entail leading Ipswich Town back to the Premier League for the first time since 2002.
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Sky Sports says Lampard has already interviewed twice with Ipswich Town ownership in a bid to earn his first senior management gig.
Lampard, 39, played for Chelsea, Man City, New York City FC, West Ham United, and Swansea in a sparkling 20-year playing career.
Town finished 12th in the Championship, 15 points back of a playoff spot and 19 clear of relegation.