Liverpool’s summer plan for Cody Gakpo was simple on paper: if the money was right, he could go. By the end of the window, that script had been ripped up.
The Dutch forward, fresh from a standout World Cup and an electric start to the 2026/27 campaign, spent most of the summer with one foot out of Anfield. Liverpool had quietly marked him down as a saleable asset under specific financial conditions, and the market responded. Manchester City circled. Tottenham Hotspur did too. Both were ready to pay.
City pushed hardest. In the final days of the window they moved to bring Gakpo in as a replacement for Savio, confident they could trigger the agreed package of around €100m. The numbers were there. The interest was real. Gakpo, according to reports in the Netherlands, chose City.
Then Liverpool slammed the door.
A report from Dutch outlet Dagblad detailed how Gakpo held talks with the club’s owners on Tuesday, a meeting described as partly to “clear the air” after the collapse of his move. From his side, the breakdown came as a shock. An agreement on the financial framework of his departure had been in place. Both City and Spurs were prepared to meet it. Yet, as the window closed, Liverpool informed him there would be no move to City. No late alternative either. “It now appears that there will definitely be no other deal,” the report concluded.
So what changed?
The answer lies not in the market, but in the dugout. Once the numbers were on the table and the reality of losing him hit home, Liverpool chose football over finance. They did not bring in a replacement. Andoni Iraola, assessing a squad about to be stretched across four fronts, decided Gakpo was too important to sacrifice.
The evidence on the pitch has backed that call. Gakpo struck on the opening weekend against Newcastle, then followed it up with a smart assist against Nottingham Forest. He has started the season not as a peripheral piece to be cashed in, but as a central figure in Liverpool’s attacking puzzle.
That is exactly how the club now see him.
According to Football Insider’s Pete O’Rourke, the internal stance has hardened: Gakpo is expected to play a “key” role for the rest of the season. Not just as a starter, but as the tactical chameleon Iraola can’t do without. Left wing, central forward, between the lines – his ability to shift roles mid-game has become a strategic asset.
“He’s such a versatile player for Liverpool, and I think that’s the key, Liverpool didn’t really want to lose that,” O’Rourke said, underlining the thinking that ultimately won out over the lure of a nine-figure fee. Manchester City were ready to “pay top dollar” for the Dutchman. Liverpool listened. Then they walked away.
The decision speaks volumes about Iraola’s influence. A coach in his first season at Anfield has effectively overruled a summer sales plan because he believes Gakpo will be central to any success Liverpool can carve out. In a squad where the attacking hierarchy has often shifted, that is a powerful endorsement.
The story of Gakpo’s summer could easily have ended with him in sky blue, another high-profile addition to Pep Guardiola’s armoury. Instead, he stays on Merseyside with something more valuable than a transfer saga: a clear role, renewed trust from the hierarchy, and a manager betting heavily on his impact.
Liverpool were ready to cash in. Now they’re building around him.
