The 24-year-old midfielder is out of contract at the end of the season. Discussions with Juventus have reportedly commenced. The Italian club have publicly stated their interest in the Germany international.
Gerrard, and his former England teammate Rio Ferdinand, were discussing on BT Sport, if Reds skipper Jordan Henderson would fit into Jurgen Klopp's side after the arrival of Naby Keita from RB Leipzig.
And the current Liverpool U18 boss revealed exactly why he thought Henderson would find space in the team.
"Well you'll have to wait and see what happens because Emre Can's leaving, obviously Keita's coming in," Gerrard said.
"But Keita is a No 8, Keita is a dribbler, and a runner.
"But the way he (Jurgen Klopp) plays he plays 4-3-3 more often than not. So you can accommodate a Henderson and a Keita."