The Northern Irishman has long been an admirer of the 20-year-old who Liverpool actually released to join Blackpool and has acknowledged what he would add to his squad.
Reading have also registered their interest in Paul Ince's son, but with Blackpool determined to keep hold of their prized asset, a move does not look like it is on the cards at the moment.
"We could still do the deal it but it looks like that one is a bit too complicated at this stage," said Rodgers.
"It's about affordability as well. If Tom stays at Blackpool it doesn't mean he won't join Liverpool at a later stage. Maybe in this window it might be a difficult one for us."
QPR: Boss Harry Redknapp will attempt to finalise deadline-day moves for Peter Crouch (above) and Christopher Samba today.
The west London club triggered the £12.5m release clause in Congo international defender Samba's contract with Russian side Anzhi Makhachkala.
The giant centre-back, for years a stalwart at Blackburn, would the ideal man to replace his former Rovers partner Ryan Nelsen, who is heading to become head coach of Toronto FC.
Redknapp also confirmed the signing of South Korea full-back Yun Suk-young on a three-and-a-half year contract from K-League side Chunnam Dragons for an undisclosed fee.
The 22-year-old has been granted a work permit and will be eligible to play for the Hoops when he is granted a visa.
Stoke striker Crouch and Toulouse midfielder Etienne Capoue are among those also believed to be on QPR's radar ahead of the deadline while it is understood the club have given Alejandro Faurlin permission to speak to Palermo over a loan move.
Norwich: The Canaries confirmed they have agreed the loan signing of Sporting Kansas City striker Kei Kamara until May 6, subject to immigration clearance.
The 28-year old Sierra Leone international needs approval from the UK Border Agency to come and work in the UK.
Birmingham: Goalkeeper Jack Butland is believed to have turned down the chance to discuss personal terms with Chelsea. It is understood Butland, 19, is not keen on a move to a club where he would not be playing regular first-team football as he looks to continue his development.
WEST HAM: Blackburn goalkeeper Paul Robinson is in talks over a move to the Hammers, having fallen out of favour at Ewood Park in recent months.
Reading: The Royals have completed the signing of Sheffield United striker Nick Blackman, who has impressed for the Blades since he moved from Aberdeen last summer, scoring 14 goals for the npower League One club.
Norwich, meanwhile, are in talks to add striker Luciano Becchio to their ex-Leeds contingent.