Liverpool principal owner John Henry and chairman Tom Werner believe Steven Gerrard's contribution to the club is "beyond measure".
The Reds captain's announcement that he will end an association with his boyhood club this summer which began when he was eight years old has brought glowing tributes from far and wide.
He has expressed a wish to return in some capacity in the future and there is already an open invitation on the table from Henry and Werner.
As part of Fenway Sports Group they took over the club in 2010 with Gerrard's best years already behind him but that did not mean they do not recognise the significance of his impending departure.
"His contribution to the club is almost beyond measure and it's testimony to his influence, that despite Liverpool having such a long and distinguished list of legendary figures, the name Steven Gerrard will always be at the summit," said the pair in a statement.
"There is sadness that such a great player and person is leaving and won't be playing for Liverpool beyond this season.
"But there is also a sense of celebration and gratitude, that we've all been privileged to watch and work with one of the true greats, not just of this club, but the game in general.
"I hope we all respect that Steven and his family want to pursue something new and different for the final years of his playing career.
"We all wish him well in this endeavour and look forward to welcoming him back to Anfield in the future, when the time is appropriate.
"Steven will always have a part to play for this club, as and when the time comes that he wishes to return."