Steven Gerrard would be an asset to Liverpool both on and off the field if Jurgen Klopp should decide to bring the Anfield legend back to the club, according to Mark Lawrenson.
Gerrard confirmed on Tuesday that he would not be renewing his LA Galaxy contract, with a decision yet to be made over calling time on his career.
But Lawrenson, who won five league titles with Liverpool, believes the 36-year-old could still make an impact in the Premier League.
"They will not have to pay him fortunes – they can tell him if they need him he'll play," Lawrenson, who insists Gerrard could "definitely play in this Liverpool team", told BBC Sport.
"The most important thing in all this, though, is that he would not be seen as a threat by Jurgen Klopp if he was on the coaching staff.
"He would be brilliant to have around the club because he would be in awe of Klopp, so that is just not a worry. I am sure Klopp would love it too – the only effects would be positive.
"He has already coached Liverpool's under-16 team for a while in 2015 and really enjoyed it.
"If you are an under-16 and getting coached by Stevie G, then how good is that?"
Gerrard, who revealed playing and coaching offers had already been put to him, made 710 appearances for Liverpool, with whom he won the Champions League in 2005.
The Premier League title eluded him, but Klopp's side sit top of the table after 11 matches this season.