Gerrard, speaking to the Sunday Mirror, said: "I have just signed a long-term contract and I signed it because I believe Liverpool will be back in the Champions League and challenging for the title. But I also know that things in football don't always go the way you think they will.
"If we don't qualify for the Champions League over the next couple of seasons then I would have to think very seriously about things. I owe it to myself to take another look at my future."