Liverpool are in talks with Manchester City over Cody Gakpo in a shock transfer that would be the first between the clubs since Raheem Sterling in 2015.
While Netherlands international Gakpo would leave Anfield on far more amicable terms with the club's supporters should he depart, the decision to offload him at this late juncture of the window is likely to cause more head scratching than when Sterling moved up the M62 over 11 years ago.
Different circumstances from Sterling move
Back then, Liverpool were light years behind City in the race for English football's biggest prizes and Sterling, who was still a teenager, had agitated for months, including refusing to travel on the pre-season tour of the Far East that summer. In the end, a deal worth around £50m made sense for all parties concerned, as the relationship between the England international and the Reds fans ended on sour terms.
What is less clear is why Liverpool are so willing to deal with City, now a direct rival, for one of their finest forwards. Gakpo is a popular figure in the dressing room, particularly with the club's Dutch contingent of Ryan Gravenberch, Jeremie Frimpong and club captain Virgil van Dijk, and his quiet, reserved nature has endeared him to many of his colleagues since he moved to England nearly four years ago.
Surprising timing amid summer recruitment
The decision is even more peculiar when you consider that the Reds have worked all summer to improve their options in wide areas only to suddenly embrace the prospect of leaving themselves short at the 11th hour by green-lighting the sale of someone who has started the campaign impressively.
Gakpo has been wanted for some time by Tottenham Hotspur but serious interest from City emerged earlier this month and the former PSV Eindhoven star has now made it clear he would jump at the chance to switch to the Etihad. As a result Liverpool are now in active talks with City over a deal for a player who has a proven track record at Anfield since he joined in January 2023.
Gakpo's record and recent form
Like almost all of his colleagues, the Dutchman endured a dip in form under Arne Slot last season but his superb cross for Alexander Isak in Saturday's 2-2 draw with Nottingham Forest means he has now contributed 51 goals and 20 assists on Merseyside. His best campaign undoubtedly came two years ago when he registered 18 goals across all competitions as Slot's side won the Premier League, but he could become the latest high-profile exit from a title-winning squad that has been decimated since the summer of 2025.
Since those halcyon days following confirmation of the club's 20th league title, Trent Alexander-Arnold, Jarell Quansah, Luis Diaz, Darwin Nunez, Caoimhin Kelleher, Andy Robertson, Mohamed Salah, Ibrahima Konate and Curtis Jones have all left and it appears as though Gakpo is now seeking a fresh challenge himself.
Contract anniversary and market context
As fate would have it, Sunday marks one year to the day since Gakpo signed a new Liverpool contract. At the time he spoke of adding "more beautiful moments" to his story at the club and was effusive about how settled he and his young family were in the North West. In truth, there haven't too many more of those moments he spoke of since, particularly during an unhappy year for the club as a whole across the 2025/26 campaign, but the new deal has at least preserved his value at a time when the transfer market has become bewildering to many rank-and-file football followers.
Talk of an £85m agreement with City might sound exorbitant on first mention but that was the figure the Etihad club received from Tottenham for winger Savio, who had nothing like the body of work of Gakpo in either the Premier League or Champions League. That feels like a fair ballpark to begin talks, but the Reds are unlikely to sanction any departure until they have added another winger to their ranks before Tuesday's 11pm deadline.
Potential replacements under consideration
Yankuba Minteh, who has been the subject of two rejected bids by Brighton & Hove Albion, has been part of the conversation and a deal for the Gambia international could be resurrected if the Seagulls lower their asking price from £80m. Checks have been made on Ismaila Sarr at Crystal Palace and there were exploratory talks with Paris Saint-Germain earlier in the window over Ibrahim Mbaye, who is now close to joining Aston Villa.
Said El Mala, of FC Koln, has been on a shortlist and Liverpool asked about Brazil international Endrick but were informed Real Madrid were looking to keep him. Belgium international Matias Pardo-Fernandez has yet to leave Lille, despite interest from Aston Villa and Newcastle, and the Reds' recruitment department have been described to the ECHO as 'spinning plates' at this stage of the window.
The summer-long priority of strengthening in wide areas directly contradicts the idea of selling Gakpo without a replacement of similar stature, however, even with the imminent arrival of Bradley Barcola, who is set for a medical on Sunday. France international Barcola will move from PSG for a fee of £123m but the Reds remain active for another attacker before 11pm on Tuesday. Their ability to do that will have a huge say on what happens next in the career of Gakpo.
