Liverpool winger Cody Gakpo is reportedly a key target for Tottenham Hotspur this summer. Reports coming from the Netherlands have claimed that the Dutch international has agreed personal terms with Roberto De Zerbi’s side and he’s keen to make the move.
But, here’s why letting Gakpo leave could prove to be a big gamble for Liverpool.
In this article, we’ll cover:
The Luis Diaz warning
The 2025/26 summer transfer window was a monumental one for Liverpool. At the time, the Reds were the reigning Premier League champions and they flexed their financial muscle as well as their pulling power to secure Alexander Isak and Florian Wirtz for a combined £240million, inclusive of add-ons.
They also signed Giorgi Mamardashvili, Milos Kerkez, Jeremie Frimpong and Hugo Ekitike, taking their summer spending to over £400million. They balanced the books with some big sales too.
Trent Alexander-Arnold, Darwin Nunez, Tyler Morton, Caoimhin Kelleher, Ben Gannon-Doak and Jarrel Quansah all departed, with Liverpool pocketing around £150million for that group of six. Their biggest summer sale, however, was Luis Diaz who joined Bayern Munich for £65million.
The Colombian wanted a new deal at Anfield befitting of his role in the squad. He’d played a key role in their title success the year prior and wanted to be fairly rewarded for it. Liverpool weren’t eager to give a new, improved contract to a 28-year-old. In the end, the deal worked out for everyone. The Reds got a fair fee. Diaz got the deal he wanted and Bayern bagged a player who turned out to be key to their attack.
That deal is now viewed a little differently. The market for attackers has exploded and the £65million fee now looks to be grossly undervalued. Diaz had a career best season in the Bundesliga, scoring 15 goals and assisting on 14 occasions.
Couple that with the fact that Liverpool, simply put, failed to replace him and it’s easy to understand why that deal is now, retrospectively, judged as a bad one for the Premier League side.
There’s a sense of deja vu around Anfield this summer. The starting left-winger is being linked with a move away, for decent money too, and yet unless he’s adequately replaced, it might turn out to be a disaster for the Reds.
An awkward position for Liverpool
The Reds want to bolster their ranks in attack. Ibrahim Mbaye is liked and the expectation is that he joins along with PSG teammate Bradley Barcola. But neither deal is close to being confirmed with Liverpool seemingly not agreeing with the valuations placed on both players by the Ligue 1 giants.
A deal could be struck but there needs to be a compromise. The Merseyside club might also need to raise funds to make it work and one player they could sacrifice is Gakpo, especially if they’re going to get a reported £70million for him.
He’s a handy squad player to keep around due to the fact he can cover the centre-forward position too. He could prove to be key with Hugo Ekitike ruled out until the New Year.
But can Liverpool afford to reject a £70million offer for a 27-year-old who won’t be a starter this term? Can they afford to reject such a bid when it could help pay a chunk of the Barcola fee?
Can they afford to pay a squad player a reported £250,000-per-week when the squad needs strengthening?
If they sell too early and then can’t strike a deal with PSG, they’re short in attack. If they sell too late, Spurs can negotiate a better deal knowing full well Liverpool need him off of the books. It’s a tricky one to get right.
Continuity is key
Liverpool have already lost Mohamed Salah this summer. Though Fede Chiesa is still around, Gakpo is the only starter from the title winning attack that remains at the club. That sort of turnaround can’t be good for a team, not in such a short space of time. And not when a new manager is trying to bed in a new style.
There needs to be some continuity, doesn’t there? While Gakpo isn’t the perfect fit for Andoni Iraola, he’s a useful player to have around.
You need to judge Gakpo on more than just last season. Under Arne Slot last term, every single member of the forward line suffered. Salah went from posting record-breaking numbers to finishing the campaign with seven goals. Gakpo, similarly, had a downturn in output, going from 10 during the title-winning campaign to seven last season.
Gakpo was impressive during the 2024/25 success. His performances earned him a bumper pay rise and it seemed like good business. He had 14 goal involvements across a little over 1,900 minutes. He looked better when Liverpool played at a quicker tempo, which they would under Iraola.
Gakpo proves a point
Gakpo has looked good in pre-season. He played a part in both the goals Liverpool scored against Monaco and chipped in with a goal and an assist in the win over Como. He looks purposeful in possession and a lot more direct.
Pre-season form shouldn’t dictate anything but Liverpool are gambling on a few things if they sell him.
Victor Munoz has looked bright in his cameos but he’s untried and untested in the Premier League. Rio Ngumoha is still 17 and is learning a new position over on the right for now. Barcola has been earmarked as the man for the left of the attack if he joins but, again, he’s an unknown in the English top-flight while Mbaye, as good as he looks, is 18 with very little football under his belt in the grand scheme of things.
If you sell Gakpo, you lose the only other guarantee in attack you have. Yes, you’re paid well for it, but you need to weigh up the risk reward here. Liverpool cashed in last summer, selling Diaz, and suffered because no adequate replacement was signed. They can’t repeat those mistakes this year.
