As things stand, Gerrard will see his current contract—signed last July—expire at the end of the 2014-15 season, but Rodgers is quoted by the Daily Mail's Dominic King saying that the midfielder has a lot left to offer:
A lot has gone on over the summer. I am very happy that Steven is now going to commit to Liverpool and I am sure that (his contract) is something we will look at. I know he can continue to play beyond this season.
I have always said that. Now he doesn’t have international football, he will have that freshness. Listen, for his own mind, I’m sure he will want it sorted out, absolutely. You never want to leave players with not too long to go on their contract. It is something I am sure will get sorted.
Thirty-four-year-old Gerrard travelled to Brazil as part of Roy Hodgson's England World Cup squad but announced his retirement from the international game earlier this week, per BBC Sport.
Gerrard's decision will undoubtedly prolong his club career, and the Daily Star's Chris McKenna suggests his new deal will be worth £150,000-a-week, depicting just how highly the Merseysiders still value their long-term servant.
Having first appeared as a senior figure for the Reds in 1998, Gerrard is coming upon his 17th season with Liverpool, the only club he's ever represented—a fact he will no doubt seek to retain until hanging up his boots entirely.
There is some confusion over the length of the new deal, but the Liverpool Echo's James Pearce claims it's only a one-year extension that's to be awarded:
Despite his advanced years, Gerrard enjoyed a campaign of vintage quality in 2013-14 as he helped fire his side to second place in the Premier League, returning Liverpool to the Champions League as a result.
According to Squawka, he scored 13 goals and made 13 assists in 34 league appearances, also crafting another 54 scoring chances for his team that went unconverted.
Admittedly, the presence of a striker as talented as Luis Suarez makes life for any player in Gerrard's position that much easier, and the squad leader will have a heavier task in once again leading by example this term.
However, with Daniel Sturridge remaining at Anfield, Rodgers' talisman can hope to maintain one particularly fruitful relationship, while also linking up with new arrivals Rickie Lambert, Lazar Markovic and Adam Lallana.
Early on last season, the idea was mooted that Gerrard's Anfield career could be extended at centre-back, prompting mixed response from the Daily Mail's Lee Clayton and Ben McAleer of WhoScored.com:
Tony Cascarino arguing in the Times that Steven Gerrard can extend his international career as a centre back. That's different!— Lee Clayton (@LeeClayton_) September 7, 2013
Surely Waddle can't be serious about Gerrard playing centre-back? Imagine the Hollywood passes from defence? He'd be good for stoke, mind...— Ben McAleer (@BenMcAleer1) October 9, 2012
Now back among the European elite and coming upon a fresh dawn of prosperity, Liverpool are relying upon their latest line-up to engineer another glorious era, but the presence of older faces and experienced heads isn't to go undervalued.
In that essence, Gerrard is as essential a figure as any latest arrival, and the role he has to play over the coming year(s) will be pivotal in reminding younger players of where the club has come from, not exclusively where it's going.