Steven Gerrard reportedly waived his right to a £10m sum in a bid to preserve his coaching career.
That's according to Al-Ettifaq head of football Hatim Al-Mashaal.
The former Rangers boss departed Saudi Arabia earlier this season, with the threat of a potential relegation battle in the Pro League looming.
He departed the Middle East, and has been out of football since returning to the UK.
Gerrard left Rangers in 2021, but has been heavily linked with a return to Ibrox since Philippe Clement was sacked in February, and Barry Ferguson was placed in interim charge.
Only when the proposed takeover of the Ibrox club by 49ers Enterprises and Andrew Cavenagh goes through is a new permanent manager expected to be appointed.
And according to Al-Mashaal, Gerrard stands a chance of getting another job because he left Ettifaq at the right time.
But he has revealed the decision came at a cost.
"Gerrard waived his dues in order to leave Al-Ettifaq," he told the 'Our Club' programme in Saudi. "Gerrard waived half of his contract with Al-Ettifaq, and the other part has been scheduled.
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"He waived £10million because if the club had been relegated with him, it would have caused a crisis in his coaching career.
"So the agreement to leave was a mutual one between the club and the coach."
