The two sides face each other at City of Manchester Stadium on Sunday and the Reds could leapfrog City should they leave Eastlands with maximum points. However, Roberto Mancini's side would still have a game in hand.
Media reports have this week indicated that Liverpool's finances remain in an unhealthy state, and in the event that Rafael Benitez fails to deliver Champions League football next season, a £140 million bid for the star duo could be tempting for the club to help solve their fiscal deficiencies.
Gerrard has almost been wooed in the past as in 2005 he was close to signing for Chelsea and according to reports he has been getting increasingly frustrated at the lack of progress at Anfield this season.
Torres, meanwhile, may look to the wages available at Manchester City, and be lured by the prospect of being offered a deal in excess of the £140,000 per week that Emmanuel Adebayor receives.
Torres currently pockets around £95,000 per week at Liverpool.