Former Chelsea manager Frank Lampard has admitted he is "disappointed" not to have had the chance to reverse the club's fortunes following his dismissal on Monday. Lampard, 42, was <a href="https://www.thenationalnews.com/sport/football/frank-lampard-sacked-with-thomas-tuchel-favourite-to-be-new-chelsea-manager-1.1153251#1">relieved of his duties after 18 months</a> in charge and with Chelsea languishing in ninth place in the Premier League table. Their position is a consequence of an alarming slump in form which comprises five defeats in the past eight games having briefly held top spot following a 17-match unbeaten run in all competitions. "It has been a huge privilege and an honour to manage Chelsea, a club that has been a big part of my life for so long," read a statement posted on Instagram from Lampard, who spent 13 illustrious years as a Blues midfielder, winning three Premier League titles, four FA Cups, the Champions League and the Europa League. He is also Chelsea's all-time leading goalscorer with 211 goals. It was his immense contribution as a player that no doubt influenced his appointment in July 2019, having spent a solitary season as manager of second-tier Derby County. Lampard faced immediate challenges upon his return to Stamford Bridge, with the club under a transfer embargo and unable to sign a replacement for Eden Hazard after the team's best player was sold to Real Madrid. With expectations comparatively low for a club with notoriously high demands, Lampard guided Chelsea to a top-four finish in the Premier League and the FA Cup final while giving plenty of opportunities to Academy players, with the likes of Mason Mount, Tammy Abraham, and Reece James now established regulars. However, after a summer that saw Chelsea spend around €250 million ($304m) on new players, expectations were decidedly higher this season and the club have deemed Lampard to be falling below those standards. "Firstly, I would like to thank the fans for the incredible support that I have received over the last 18 months. I hope they know what that means to me," Lampard wrote. "When I took on this role I understood the challenges that lay ahead in a difficult time for the football club. "I am proud of the achievements that we made, and I am proud of the Academy players that have made their step into the first team and performed so well. They are the future of the club. "I am disappointed not to have had the time this season to take the club forward and bring it to the next level. "I want to thank Mr Abramovich, the board, players, my coaching team, and everyone at the club for their hard work and dedication, especially in this unprecedented and challenging time. "I wish the team and the club every success in the future." Former Paris Saint-Germain and Borussia Dortmund manager Thomas Tuchel is the favourite to replace Lampard.