The 33-year-old signed a new one-year deal with the club during the previous campaign and was a key reason for them clinching the Europa League, but has made just two Premier League starts under Lampard this season.
Tammy Abraham has been the main striker, with Michy Batshuayi the one named on the bench through the majority of the campaign.
Lampard explained why the veteran forward has not been part of his matchday squads in recent weeks.
“I think with Oli, it’s clear that in Tammy we’ve had a striker that’s broken through this season and done really well and played a lot of games,” Lampard said.
“So there hasn’t been much opportunity for Oli. Now we get to January and I respect Oli as I’ve said in recent weeks.
“If it’s his intention or it’s right for him to go and play games and it feels right for us as a club, then I think it’s a club and Oli and me situation where I don’t’ want to hold someone here who has that feeling.
“Then there are obviously ways about how I see the game and how I want us to play on and off the ball and all those little decisions I have to make week in, week out so I suppose that’s where we’re at.”
Lampard has stated before that for Giroud to leave the club in January, it has to be right for all the parties involved.
Inter Milan are leading the race for the striker, while Aston Villa have also been linked with a move for Giroud.
But despite Chelsea having not a strong lead just yet, Lampard insists he is not being ‘too nice’ in allowing the Frenchman to dictate his transfer plans.
“No, I’m certainly not being too nice. It’s just a decision,” Lampard added. “I made decisions in the summer, even though we couldn’t bring in we lost a player at the end of the window in the summer for what I thought were footballing reasons.
“It’s a decision you just have to make. And if I feel we can move forward, and if I feel feel that individually – and I have respect.
“I always found it as a player that, particularly when you go to 30+, a manager speaks honestly with you and you are honest back, and it’s the right decision individually, I think that is then the best decision for everybody.”
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