Michael Owen admits his future at Liverpool could hinge on whether Steven Gerrard stays at Anfield.
Owen said any decision to sell Gerrard would be a "catastrophe" and wants assurances from Liverpool before opening contract talks with the club.
The England striker said: "I'm not issuing ultimatums or threats, that's not my style.
"But I do need to be sure we have a team that can close the gap on the top two clubs."
Owen has a year left on his contract and is due to sit down for talks amid mounting speculation that Gerrard will move to Chelsea.
I hope Liverpool would make every possible effort to keep Steve
Liverpool striker Michael Owen
England striker Owen told the News of the World: "I think it would be impossible to replace Stevie.
"He is the driving force and such a strong influence on the team.
"It would seriously weaken the team if he were to leave.
"I'm merely echoing what all Liverpool fans would be thinking by describing it as a catastrophe.
"They would expect the club to sign two or three world-class players with any money they received for Stevie, and I feel the same.
"I don't know what the future holds for him and I hope Liverpool would make every possible effort to keep him."
Negotiations on personal terms are well advanced but that is not the main consideration
Michael Owen
Owen has already met new Liverpool boss Rafael Benitez and been impressed by his vision of the club's future.
The England striker said: "He told me the direction he wanted to take the club and the sort of players he wanted to sign.
"Now we've got to see that happen.
"I certainly have no qualms about his appointment, but his arrival will not be the decisive factor in persuading me to sign a new contract.
"It's important to have a good manager - but it's just as important to have good players.
"Negotiations on personal terms are well advanced but that is not the main consideration."