Liverpool want a decision from star pair Steven Gerrard and Fernando Torres inside the next two weeks.
The News of the World says if the star duo do not ask for a transfer before the end of the month, they will be staying at Anfield.
New Kop boss Roy Hodgson will hold further talks with £30million-rated midfielder Gerrard when his skipper returns to training on Tuesday.
Torres and his representatives have also been informed of Liverpool's hardline stance on his £70m valuation.
Chelsea and Real Madrid have been effectively told to 'put up or shut up' in their pursuit of the players.
Neither has made an official bid, despite making contact with the Merseysiders to register their interest.
Unless their suitors meet Liverpool's price before the start of next month, Gerrard and Spain striker Torres will not feel they have any decision to make and will commit themselves to Anfield.
