Gerrard set to end his career with Liverpool
Steven Gerrard has signed a new long term deal with Liverpool that is expected to see him finish his playing career with the Reds.
The Reds' captain has also agreed to take on a role as an ambassador for the club after he retires as a player.
"I'm very happy. It's a very proud day for myself and my family," said the 31-year-old.
Full details of the deal have not yet been announced.
The announcement came the day after Gerrard's 13th minute penalty gave Liverpool a 1-0 advantage in the first leg of their Carling Cup semi-final at Manchester City.
Crystal Palace already have one eye on the promised land of European football after beating Championship rivals Cardiff City in the first leg of their semi-final on Tuesday night.
Anthony Gardner scored the game's only goal in the 43rd minute, heading in a Darren Ambrose cross from the left.
If the Championship's representatives pull off a shock win against City or Liverpool in the final, they will qualify for next season's Europa League competition.
The Bluebirds, currently flying high in the Championship play-off zone, could be in the Premier League by the time they embark on a European campaign - if they can overturn the Eagles' slender first leg advantage then beat the odds with victory in the final.
Carling Cup semi finals
Tuesday, January 10
Crystal Palace 1 (Gardner 43) Cardiff 0 - first leg
Wednesday, January 11
Man City 0 Liverpool 1 (Gerrard pen 13) - first leg
Tuesday, January 24
Cardiff v Crystal Palace, second leg, 19:45
Wednesday, January 25
Liverpool v Man City, second leg, 19:45