Frank Lampard called time on his football career after 21 years
Swansea's Paul Clement admitted he was one of a number of managers who tried to persuade the 38-year-old to spend one last season in the Premier League after his spell in the USA with New York City but Lampard announced that it was time for a change.
"I have decided that now is the right time to finish my career as a professional footballer," said Lampard. "While I have received a number of exciting offers to continue playing at home and abroad, I feel now is the time to begin the next chapter in my life.
"I'm grateful to the Football Association for the opportunity to study for my coaching qualifications and I look forward to pursuing the off-field opportunities that this decision opens."
FA technical director Dan Ashworth will help him to secure his UEFA B licence after 609 Premier League appearances in which he scored 177 goals in addition to winning 106 caps for England.
John Terry branded Lampard the greatest ever Chelsea player following his retirement
Terry, who played alongside Lampard for the most successful period of his career at Chelsea in which Lampard collected three Premier League titles, four FA Cups, two League Cups, the Europa League and a Champions League winner's medal in 2012, began a heartfelt tribute to Lampard by labelling him "the greatest player in the history of our great football club".
He continued: "It was an absolute pleasure playing with you, mate, inspiring me and everyone at the club. I miss you next to me in the dressing room – a gentleman both on and off the pitch, leader in the dressing room and if I could choose one person next to me in the trenches it would be you."
Lampard began his career at West Ham and, after a brief loan spell at Swansea as a teenager, he made his debut for the Hammers at Barnsley in 1997.
An £11m move to Chelsea in 2001 sparked a decade in which, every season, he reached double figures in the goalscoring charts.
Lampard celebrates winning one of three Premier League titles during his career
In 2014 he agreed to join New York City but caused controversy when he turned out instead for their part-owners Manchester City in one last Premier League hurrah.
He eventually kick-started his Major League Soccer adventure a year later and after a slow start scored 12 goals in 18 appearances, including the first ever New York City hat-trick.
Match of the Day presenter Gary Lineker believes that while Lampard would be a natural for media work, he would be a rare boost to the English coaching scene if he follows down the same path as father Frank Sr, who has built a reputation as one of the finest coaches in the game.
"It is not a path too many English players of his calibre have taken recently," said Lineker.
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"So it would be nice to see someone like Lampard go into the coaching game, with his intelligence and passion and especially because he wants to test himself as a manager."
His demanded remained. Swansea head coach Paul Clement revealed yesterday he tried to sign Frank Lampard last month and said: "I would be lying if I told you I didn't try and sign him. It would have been good to bring him here because we know about his ability, but he's also a leader.
"We had a chat, it didn't go very far but he appreciated that I had called him and instead we got Tom Carroll, so I'm very happy with that."
Wayne Rooney also paid tribute to his former England team-mate on Instagram, saying: "Great player, teammate, goalscorer and a great friend. Congratulations on a brilliant career @franklampard."
Further tributes poured in from all around the football world with Germany icon Lothar Matthaus describing him as a "brilliant player and true professional, a legend".