The club are in yet another period of transition, assuming a more defensive approach to halt the slump which saw one win in eight before Saturday's late victory over Stoke City, and Gerrard has taken substantial criticism for the struggle. The prospect of a swansong in the United States or Italy - both of which present opportunities - may be a far more attractive proposition for Gerrard.
He would be a huge draw to Major League Soccer, where the anticipated imminent arrival of Lampard and David Villa whilst still only just past their peak is seen as a boost to the burgeoning league's credibility. Thierry Henry's announcement yesterday that he will not renew his contract with the New York Bulls in 2015 creates what could be an attractive lifestyle option for Gerrard and his young family.
In Italy, Roma could be interested if, as expected, they sell Kevin Strootman to Manchester United. Both Milan clubs may create potential and Milan tried to sign Gerrard when Carlo Ancelotti was manager, in the last decade, though the feeling in Italy is that having Gerrard, Fernando Torres and Michael Essien in the same team would be too much of a former Premier League contingent. Internazionale may also be interested.
In Spain, it is understood that Real Madrid and Barcelona would not be options and clubs beneath them may be less attractive, since Gerrard rejected Real in the past. Valencia have money to spend again, nevertheless.
British clubs would also be attracted by the idea of Gerrard in their ranks, with Manchester City one possibility if - as seems likely - Lampard is needed for the role he was hired for in New York.
Rodgers rejected the idea that Gerrard might now be eased into a coaching role. "At this moment in time he is still very much a player," the manager said. "This is his concentration. When I see how he trains and works it is still about playing. Then, maybe there is a role further down the line. To have someone like that beside you in a coaching capacity would be great. At this moment it is purely about football. He is 35 years old at the end of this season and still has a couple of years to play if he wants to. There are many things at this stage he needs to factor in, it not just about football."
- THE INDEPENDENT