The rumors were accurate. As of now and till the completion of the current campaign, Frank Lampard will lead Chelsea.
Frank Lampard, a former Chelsea legend, is being considered to take the helm once more, according to numerous English media outlets on Wednesday night.
Frank Lampard will serve as caretaker manager until the end of the season, the board announced on social media on Thursday.

Also, the Blues expressed their delight at his homecoming on their website, saying: “The move marks a return to Stamford Bridge for Lampard who enjoyed an illustrious playing career with the Blues, winning the Premier League on three occasions and the UEFA Champions League in Munich.”
“He oversaw the team for 84 competitive games during which time we reached the FA Cup final.”