Reds captain Gerrard went public last week saying the club he has stayed loyal to throughout his career need to come up with a new deal before the end of the season.

But the American owners are not prepared to match his existing £180,000-a-week terms - believing he is not worth superstar wages with age now seeing his influence on the pitch reducing.

Instead they have put on the table a two-year-contract that will pay £90,000-a-week for the first season, dropping to £60,000-a-week in the final 12 months.

Built in with the offer is an option for Gerrard to either take up a coaching role in 2017 or become a club ambassador should he decide against staying in the game in a hands on capacity.