However, after performing a complete U-turn on that decision on Tuesday night, Gerrard has now committed his future to the club, as has his good friend Carragher, a major influence behind Liverpool’s memorable Champions League triumph over AC Milan in Istanbul.

The news will be greeted with delight by Liverpool fans, who regard the Merseyside-born duo as the heartbeat of their side.

While Gerrard may still have some work to do to get the more sceptical fans behind him, his undoubted quality gives Rafael Benitez’s men a better chance of ending their 15-year run without a league championship.

With so many continental players arriving as Benitez’s revolution takes hold, the pair’s presence is vital in retaining a close link with the supporters. Carragher’s enhanced status is likely to have seen him awarded a significant salary increase.

It is anticipated both men will play in Liverpool's first friendly of their pre-season programme at Wrexham tomorrow and then be involved as they begin the defence of their European crown against Welsh minnows Total Network Solutions at Anfield next Wednesday.

For Gerrard it is the end of a tumultuous seven days, which at one stage appeared certain to see him head for Chelsea.

And while he admits there is some minor repair work to carry out on his relationship with Benitez, he is convinced staying with his hometown club is the right decision.

“Our relationship is okay but I admit it could be better and that is something I am going to work on,” he told the Liverpool Daily Post.

“I am sure we will sit down in the next few days for a chat.

“I don’t think he has seen the best of me. There were times last season when I wasn’t happy with my performances. Things were on my mind.

“All the talk of bust-ups is nonsense. We have had a few heated discussions over the last five or six days but my respect for Rafa has not changed.

“He is one of the best coaches in the world and I understand he rates me as a player.”