The 26-year-old has two years left on his current deal but the Anfield club are keen to sign him on a new four-year contract.

New owners Tom Hicks and George Gillett are also willing to sanction a 120,000 pounds (237,000 dollars) weekly wage for the England midfielder.

Gerrard said: "Talks are progressing and I am ready to sign a new contract any time now. It's just around the corner.

"I am not sure when it will be done but I am ready to sign. As soon as the contract is put in front of me, I will sign it."

Despite reaching their second Champions League final in three years Gerrard insists his side craves domestic success which has again escaped them this season.

"We can't escape the fact that, in the league, this season we haven't been good enough," he said.

"You ask the manager, or me, or indeed any of the players in our dressing room and they will all say exactly the same thing.

"We had bigger ambitions for this season than the Champions League. We always had one eye on Europe because it is so prestigious and a tournament that has always served us well, but we also wanted the league flag flying back at Anfield and felt we were in a good position to have a real go.

"The league is always your bread and butter as a Liverpool player and we're not far away," he added.

"With investment in the summer, and the squad here staying together we can promise to push Chelsea and United all the way next year."