Chelsea boss Sarri is understood to be on the radar of Juventus, with the Serie A giants keen to make the 60-year-old their replacement for Massimiliano Allegri.
Allegri announced he was leaving the club last week and, now, the Scudetto holders are on the lookout for a replacement.
Chelsea manager Sarri is under pressure at Stamford Bridge despite guiding the club to a third-placed finish in the Premier League.
He also steered them to the EFL Cup final and will oversee his side’s Europa League final showdown with Arsenal on Wednesday.
Amid talk over his future, Lampard has emerged as a potential replacement.
The Blues legend has seen his Derby side reach the Play-Off final in his first campaign at the helm.
And Hasselbaink, who shared a dressing room with the Rams boss during his time at Chelsea, believes he would be a great Sarri replacement.
With a transfer ban, Chelsea could introduce younger players into the fold next term.
And Hasselbaink believes Lampard and Jody Morris would both be a great fit for the Blues.
“Look, if Sarri goes, then Frank Lampard is the only one who can take over,” he said.
“Because he’s with Jody, Jody knows all the young players, he’s coached then, he will know who is good enough and who is not.
“And that progression I understand.”
Sarri, meanwhile, has insisted Chelsea should sack him NOW if his future hinges on winning the Europa League final.
“If the situation is like this, I want to go immediately,” said Sarri.
“You cannot… 10 months of work, and then I have to play everything in 90 minutes? It’s not right.
“It’s not the right way. You’re either happy about my work or you’re not happy.
“My future is Wednesday, I think. I need to think only about the final at this moment.
“I have two years of contract here, so I have no contact with other clubs at the moment. I have to speak with my club first of all after the final.
“I want to know if they are happy with me or not. That is it. I have two more years of contract.
“As I’ve said before, I’m very happy to stay in the Premier League, the most important championship in the world at the moment.”
Jimmy Floyd Hasselbaink was playing at Stamford Bridge alongside Coca-Cola’s charity partner StreetGames. This summer Coca-Cola and StreetGames will be working together to help young footballers access coaches and pitches as part of its Premier League sponsorship #WhereEveryonePlays.
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