I can see that with a transfer ban and the obvious / lazy links to Lampard and Jody Morris why Chelsea might be taking a look. However, why would Frank want to take the Chelsea job at this precise moment in his career? Yes there's a strong link to the place from his playing days but he's a smart guy, he must know he's still learning his trade. And that's aside from any loyalty he may feel about honouring his contract at Derby. People take the England job when it's offered as it might be their only shot at it, but the Chelsea job will be available again very soon, and probably again not too long after that. If FL carries on doing well at Derby he'll still be in the frame for it in the future.