The 34-year-old Reds captain is set to be a free agent at the end of the season, with his current deal due to expire.
Even though he has been a lifelong Liverpool fan and spent his entire career at Anfield, Gerrard has hinted that he will move on if he’s not offered fresh terms, with retirement at the end of 2014/15 not an option for him.
Manager Brendan Rodgers has indicated that keeping the veteran midfielder is a wish of his, but negotiations between the club and the player are dragging on.
Gerrard wants to stay on his £140,000-per-week salary, yet Liverpool’s American owners believe that, at his age, such a figure does not represent value for money.
The former England captain will be free to talk to clubs about a free transfer in January when his deal enters its final six months.
Manchester City have been linked with a move to nab Gerrard from their rivals, while American side New York Cosmos are another option.