"They always say don't go back to a club but I don't know," said the former Liverpool captain. "Someone like Michael, if he goes back he will always score goals. That is a certainty.
"It's home for him - that is the key with Michael. He's got a lovely home up there that he would enjoy going back to.
"If he was to come to Chelsea - that is the club at the moment, there is no doubt about it. Manchester United have had a mention - that would be a bold move.
"I would be very, very surprised but they have got Ruud van Nistelrooy there, they have got the best young forward probably in the world now, Wayne Rooney.
"I think if he is going to come back the chances are it is going to be Chelsea or Liverpool."