The Wales international had previously spent the 2010-11 campaign on loan with the Bluebirds, scoring 11 goals and helping the club to secure a spot in the Championship playoffs.
Bellamy went on to join the Reds from parent club Manchester City and featured 33 times last season under former manager Kenny Dalglish, scoring nine goals.
"Cardiff is probably where he will end up," Rodgers told the Daily Mail. "If he does, we wish him the very best. He will still be a Liverpool supporter.
"He enjoys playing for the club, but I believe that at the end of last season he had already made his decision.
"It is not for football reasons that he is leaving but for personal ones. He has made a massive commitment to come to Liverpool, to reside up here on his own.
|21/10||Liverpool are 21/10 to finish in the top four of the Premier League with Paddy Power|
Cardiff manager Malky Mackay, meanwhile, has confirmed that "advanced talks" between the two clubs are ongoing and hinted that a deal could be sealed by the weekend.
"We're in advanced talks with both Liverpool and Craig," Mackay told reporters. "Brendan's a good friend of mine and he's been fantastic to deal with in this situation.
"It's something we're progressing at the moment and we're hoping to have some more news in the next couple of days."