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Steven Gerrard has spent the last 16 years proving a mammoth transfer fee isn’t required to become a huge success at Liverpool.

But his imminent departure is likely to demonstrate the precise opposite.

When Gerrard pulls on the famous red shirt for the final time, there is no obvious successor within the ranks, no heir to the throne in which the skipper has sat so majestically.

For Brendan Rodgers, though, the situation is nothing new.

And nor are the potential pitfalls that await.

GALLERY - GERRARD'S ANFIELD CAREER IN PICTURES:

Eighteen months on, the Reds boss still hasn’t found a replacement for Jamie Carragher in central defence, while accusations of poorly spent funds after Luis Suarez’s exit have been well documented this season.

The post-Gerrard era will be even more testing, such has been the 34-year-old’s huge influence both on and off the field at Liverpool.

Liverpool owners Fenway Sports Group have made no secret of their willingness to invest in potential, preferring to nurture talent – albeit at times at significant expense – rather than spend big on proven stars.

But Rodgers admits the Reds must now look to make marquee signings in the summer if they are to avoid dropping away from the Premier League’s elite.

“I pride myself on working with senior players, whether they’re young players or senior players,” says the Reds boss.

“The model here at the football club is clear in terms of the owners want to bring in young players in order to develop and create them into world class players, which of course can be a longer and more difficult process.

“A large part of our squad is young players but there’s no doubt at times that if you want to take those steps forward, you need those ready-made players.

“It’s certainly something I know the owners look at. They know that not every player can be a developer.

“If you’re going to keep progressing, it’s something you to have to do.

“It is of course a difficult ask, you’ve got one of the leading players in world football over the last 10 to 15 years, but it happens to all the great players.

“As a football club you have got to look to find the next ones.”

Of course, Liverpool have splashed the cash in the past to replace departing heroes.

Kenny Dalglish commanded a British transfer record fee when following Kevin Keegan.

More landmarks went when John Aldridge, John Barnes and Peter Beardsley were brought in for a revamp in the wake of Ian Rush leaving.

And Suarez, while not signed as a replacement for Fernando Torres, ended up filling his boots to the tune of £22.8million.

Rodgers will not allow sentimentality to cloud his judgement over how to use Gerrard during the second half of the campaign, starting in Monday’s FA Cup third round tie at League Two sidwe AFC Wimbledon.

“He’s still very much a player in the now,” he says.

“He’s a fantastic player for me and still got second half of the season. He wants to be a real part of what we are trying to do here.

“It doesn’t change for me really. I will always pick the best team for any game.

“Steven understands where it’s at and the number of games he will be playing.”

While Gerrard’s decision to leave was borne out of a desire to continue playing, Rodgers reveals a coaching role wasn’t part of the contract tabled by Liverpool.

“Steven has an ambassadorial role in his contract here but, at this moment in time, there wasn’t a coaching offer made to him,” says the Reds boss.

“It wasn’t part of the conversations because Steven hasn’t got his badges, and he isn’t the type who will just go into coaching blind.

“Steven knows that once he has finished with playing there will be plenty of time for him to go into coaching if that’s something he wants to do.

“Certainly for me, if I was still the manager here when that time comes, he would be someone who would be great on my staff.

“The experiences Steven has of Liverpool as a club, means he has little bits of gold dust that he can give players.

“That would be invaluable to young players, but moving into coaching isn’t something you can do by just clicking your fingers.”

Gerrard has however already made tentative steps towards gaining coaching qualifications, with Rodgers confident the player’s leadership qualities mark him out as a future manager.

“I don’t see any reason why he couldn’t be,” says the Reds boss. “In my time here of knowing him, he’s been a wonderful leader.

“Steven is a genuine guy and a really authentic person and if he decides that is the route he wants to go down – and I know he is already taking the early stages of his coaching badges – then I know that is something he would really focus his life on doing.”