The banner, which was hung on the Bovril Gate on the southern side of the stadium, read “Circus Continues” as fans also set off blue smoke bombs.
Lampard was fired after just 18 months as Chelsea’s manager on Monday morning, and has been replaced by former Paris Saint-Germain and Borussia Dortmund boss Thomas Tuchel.
The club dismissed the Chelsea legend after five Premier League matches without a win, leading supporters to protest outside the stadium.
The picture of the banner appeared just a few hours before Tuchel’s first game in charge as Chelsea will take on Wolves at home this evening.
Tuchel was sacked by PSG at Christmas but left with the best win percentage in Ligue 1 history at 75.6 per cent and the highest average points per game, 2.37.
The first German manager of the Blues took his first training session on Tuesday and aims to close the 12-point gap between them in 10th and league leaders Manchester City.
The reaction on social media to the banner has been mixed, with fans opinions split on the protest.
The board used Frank & Jody, discarding a long-term project for short term fixes again, this time at the expense people with a special connection to our club
No manager will ever be able to meet the ridiculous expectations of the board
We 💯 back Tuchel but#TheCircusContinues pic.twitter.com/qjFzS7lEVD
— WE ARE THE SHED (@WeAre_TheShed) January 27, 2021
One fan agreed that “The message is spot on,” and later elaborated: “Our best ever player was still manager whilst the club were recruiting another manager, wasn’t able to say goodbye to players and staff, experienced players making younger players feel uncomfortable, could go on.”
Another fan stated: “Always thought the managers were mercenaries I now know it’s us the supporters who are the hired hands.
“I backed Super Frank just like I’ve backed every CFC manager, through ups and downs, for the first time I feel guilty, the connection isn’t the same. Win or lose up the Blues.”
Another user agreed with the banner’s message and said: “So true God bless Frank.”
However, many other fans criticised the protest and showed support for owner Abramovich and the club’s decision to sack Lampard.
One fan wrote: “The club has appointed a new manager following a period of poor results, anyone who watched the Leicester game could see a change was needed. This is nonsense.”
Another commented: “What made you all think Lampard was the future? Acting like Chelsea is Arsenal team.
“Circumstances gave Lampard the job at that point and he should be grateful for it. Maybe in the future his time will come and maybe he will stay longer. We move.”
Another user agreed that Lampard was due to leave, stating: “Do you guys think there was going to be any improvement by keeping Lampard to the end? We would be in relegation zone after few matches, it’s about time.”
Other fans have got behind Tuchel as the new boss, with one writing: “Ain’t gonna change anything, just grow up and get behind the new man,” with a GIF of Tuchel pumping his fist while he was PSG manager.