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Liverpool announced it had parted ways with Slot on Saturday, just two years after replacing Jurgen Klopp after an underwhelming second season with the Reds.

Slot became just the fifth manager to win the Premier League in his first campaign in the competition in 2024-2025, and Liverpool was expected to challenge again this term.

However, despite several big-money arrivals, including Newcastle United's Alexander Isak, Liverpool finished fifth, only securing UEFA Champions League qualification on the final day of the season.

Gerrard said that the decision was the correct one, insisting that while Slot will go down in Liverpool history, his version of the Reds had become difficult to watch.

"Not surprised. Gutted for Arne Slot because, in his first year, he had done an incredible job," Gerrard said during a television appearance in England.

"Taking the reins from Jurgen Klopp was a tough task and big shoes to fill, and he had done it seamlessly.

"It's very difficult to win the Premier League, and I know that more than most, so for him to deliver that in year one cannot be forgotten, so I think he will go down in the history books and be remembered forever.

"Having said that, in the last 10 games of last season and the majority of this season, we have not looked like Liverpool. The style, it has been difficult to watch at times.

"It looks disjointed, broken, and when I got the news, of course, your initial reaction is surprise and shock, but when you analyse it, it's probably the right time in my opinion."

The man that has been predicted to replace Slot is ex-Bournemouth manager Andoni Iraola, who guided the Cherries to the UEFA Europa League.

Bournemouth's sixth-place finish was its highest in the top flight, while it rounded out the season with an 18-game unbeaten run that inculded eight wins and 10 draws.

Speaking about whether the outgoing Bournemouth boss would be the right man, Gerrard said: "Potentially, yes.

"I think he has done a fabulous job at Bournemouth. I think his style would suit Liverpool. Let's not beat around the bush.

"Liverpool is an attractive job for a lot of elite managers around the world, so I don't think he will be the only name on the table.

"But because of the link to Bournemouth and the guys that have come from Bournemouth to Liverpool in terms of board level, they will know him very well.

"But then, there are other names out there as well that I am sure would want that Liverpool job. It's a huge job in world football.

"Potentially, to answer your question, I think he should be in the conversation, yes."