Tractor Boys supremo Marcus Evans has been in talks with several parties for at least six months, in a bid to find new owners for the club.
A team of US investors led by Brett Johnson are on the cusp of buying Ipswich for £17.5m, with Evans writing off debt to give the new owners a fresh start.
And as part of takeover, the new owners are planning at overhauling the club with replacing current boss Lambert at top of their agenda.
Ex-Wigan Athletic boss Cook is tipped to be the man to take over the reins at Portman Road from current boss Lambert.
Ipswich are currently 10th in the League One standings, five points shy of the last playoff spot, as they struggle to build on the strong start they enjoyed this season.
Cook parted ways with Wigan in July as he was unable to keep his former team afloat in the Championship, as the club entered administration and were hit by a 12-point penalty.
Ipswich are up against fellow promotion rivals Doncaster Rovers in the league at the weekend and it remains to be seen whether it will be the last game they will play under Lambert.
