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Chelsea legend Frank Lampard has signed a three-year deal to become Chelsea boss after the announcement was confirmed by the club on Thursday afternoon.
Lampard signed a three-year deal believed to be worth £5m per season. Lampard will reportedly get an extra £1million if he achieves Champions League qualification with the club.
With Lampard’s current earnings, he’s now the eighth highest-paid manager in the Premier League after taking over as Chelsea boss.
However, Lampard’s wages is massively eclipsed by Manchester City boss Pep Guardiola, who recently signed a new deal that nets him £20m a season. Guardiola is by far the highest paid in the league and earns more than double any other manager in the Premier League.
Second on the rank is Spurs boss Mauricio Pochettino who earns £8.5m a year. Liverpool boss Jurgen Klopp and Manchester United manager Ole Gunnar Solskjaer both earn £7.5m per year.
West Ham boss Manuel Pellegrini pockets a huge sum as the Hammers went all out to make the former City boss their new manager by paying him £7m per year, while Southampton are forking out £6m a year to Ralph Hasenhuttl for his services.
Lampard earns same amount as Leicester City boss Brendan Rodgers, and it’s a huge one for the Blues legend who made the upgrade from managing Championship side Derby County to manage Chelsea who will be in the Champions League next season.
Lampard has revealed Chelsea owner Roman Abramovich has not demanded a Champions League finish this season – but says that is exactly what he himself will demand.
Lampard said: “It is a hugely talented team that managed to come third in the Premier League and win the Europa League.
“We haven’t been decimated, we haven’t lost players everywhere, we still have a very strong squad.
“We have to start with an intention to win and if I didn’t say that I don’t think I should be here because that’s how it has to be.
“Do we want to be playing Champions League football year in, year out?
“Yes for sure, and that is something that should drive us all on – myself and the players included.
“The club haven’t demanded that and I don’t think they need to say that.”