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Scans have confirmed he needs surgery, which he will undergo later this week.
The club hope he will be fit to join his club mates when they report for pre-season training in the second week of July.
Gerrard told Liverpool's website: "The rehabilitation period for this sort of operation is six weeks, so obviously I'm going to miss the World Cup which is a massive disappointment.
"However, I need to get myself right as I wouldn't have been able to do myself or the team justice in Japan.
"In the short term it's a big blow, but I'm only 21 and confident this surgery means I'll be involved in other major tournaments in the future.
"I want to send all the England lads my best wishes for the tournament and let them know I'll be cheering them on from home.
"My priority now has to be to get myself fit for the start of next season with Liverpool."
But we still have the English Roy Keane (aka Nicky Butt), so things aren't all that bad. Now all we need is another back-up defensive midfielder to cover for Butt!
I don't think Murphy's the right player, nor is Trevor Sinclair.
Hopefully this'll also be the very end of England's current World Cup nightmare!
Im so bloody angry at the clubs now.... I think country should come before club. Stop the England players playing before major finals!!!!
Scans have confirmed he needs surgery, which he will undergo later this week.
The club hope he will be fit to join his club mates when they report for pre-season training in the second week of July.
Gerrard told Liverpool's website: "The rehabilitation period for this sort of operation is six weeks, so obviously I'm going to miss the World Cup which is a massive disappointment.
"However, I need to get myself right as I wouldn't have been able to do myself or the team justice in Japan.
"In the short term it's a big blow, but I'm only 21 and confident this surgery means I'll be involved in other major tournaments in the future.
"I want to send all the England lads my best wishes for the tournament and let them know I'll be cheering them on from home.
"My priority now has to be to get myself fit for the start of next season with Liverpool."