Both teams have a need for reinforcements in the more defensive midfield role - with Arsenal star Mikel Arteta getting no younger - and Lucas Leiva more injury prone than Darren Anderton.
The talented young midfielder helped Frankfurt to a stunning season last year - finishing sixth in the Bundesliga.
It was this form that saw him linked so heavily with a move away from the club in the January transfer window - unfortunately the Premier League rivals were too late.
At the beginning of January it was confirmed that Rode had already agreed his next destination - as he would be signing for Bayern Munich on a Bosman deal in the summer.
Yesterday however it was reported that Bayern were considering pulling the plug on such a deal - giving hope to Arsenal and Liverpool if they want to revive their interest in the player.
Rode suffered cartilage damage to his right knee against Werder Bremen last weekend. He was expected to miss the next six months and to have surgery on the affected joint.
Bayern reportedly wanted their own physio, Dr. Thomas Muller-Wohlfahrt, to assess the player’s condition before signing off on any deal.
Well it is good news for Rode and bad news for any hopes of an English hijack - as he has been given the all clear.
Earlier today he shared this message with fans via his official Facebook page:
Hello dear fans,
Today I went to get a second opinion about the extent of my injured knee to study with Dr. Müller-Wohlfahrt. I am pleased with the positive diagnosis that surgery is not necessary!
Rode will still miss the rest of the season - but is expected to join Bayern Munich in the summer.
And it seems a final line can be drawn underneath this storm in a teacup - and Arsenal and Liverpool can look elsewhere.
image: © jiazi