New Madrid boss Jose Mourinho is a known admirer of the England international's qualities, having tried to sign him during his time at the Chelsea helm.
The self-proclaimed Special One is scouring the market for players to add to his side as he looks to guide the Merengues to their first Champions League trophy since 2002.
Marca indicates that manager Rafael Benitez's stay at Anfield could induce Gerrard's departure from the Reds, whom he has represented his entire career.
The Spanish news daily also claims that Liverpool, who finished seventh in the Premier League, are in serious need of cash to buy new players in the summer.
-goal.com