Manchester City and Tottenham Hotspur are monitoring Cody Gakpo's availability at Liverpool, according to transfer reporting surfaced by Fabrizio Romano. The Dutch forward, who arrived at Anfield in January 2023 for £37 million from PSV Eindhoven, has seen his starting position erode over the past eight weeks. Liverpool has not placed him on the active market, but two Premier League clubs are tracking the situation closely enough that Romano named them publicly.
Gakpo started 14 of Liverpool's first 20 matches this season. He has started three of the last 12. Luis Díaz returned from a knee injury in mid-December and reclaimed the left-wing role Gakpo had occupied. The Dutchman's versatility—he can play across the front three and as a second striker—was valuable when Liverpool's attack was rotating through absences. It became a liability once Arne Slot had his preferred personnel healthy. Gakpo has logged 78 minutes across Liverpool's last six Premier League fixtures, none as a starter.
Manchester City's interest carries a specific logic. Pep Guardiola has rotated Julian Álvarez and Jack Grealish out of the squad in recent windows, thinning the forward depth behind Erling Haaland. Gakpo offers tactical flexibility Guardiola values: he can press from the left, drop into midfield build-up, and finish chances inside the box at a rate 12% above expected goals over his PSV and Liverpool career. City typically does not pay premiums in January, but Gakpo's contract runs through 2028, and Liverpool would set the asking price north of £50 million to recoup their investment plus inflation.
Tottenham's interest is less tactical, more structural. Spurs are operating under financial controls that require them to sell before they buy in most windows. They moved Richarlison to Al-Nassr earlier this month for £41 million, opening budget space. Ange Postecoglou wants a forward who can rotate with Son Heung-min on the left and step into the central striker role when Dominic Solanke is managed for load. Gakpo's age—he turns 26 in May—fits Tottenham's profile: experienced enough to contribute immediately, young enough to retain value. The question is whether Spurs can structure a deal that satisfies Liverpool's valuation without committing cash they need for a right-sided center-back this summer.
Liverpool's position is that Gakpo is not for sale unless a club meets their number. That number is believed to be £55 million or more, based on conversations with intermediaries. The club sees him as rotation depth they paid for and still value, even if Slot's system has narrowed his role. But squad economics matter. Gakpo's wages are £120,000 per week, and his transfer fee is being amortized at £7.4 million annually through 2028. If Liverpool can recoup £50 million-plus and redeploy that capital into a midfielder or wide forward who fits Slot's pressing trigger points more cleanly, the deal makes sense. If not, they keep him and accept that £37 million buys you a fourth-choice attacker in the current market.
The window closes February 3rd. City and Tottenham have nine days to decide whether monitoring becomes bidding. Liverpool will want clarity by January 30th if they need to activate a replacement. Gakpo's agent, Humphry Nijman, has been in London twice this month, though not for Liverpool-related meetings according to sources familiar. The forward has made no public indication he wants to leave, but he also hasn't ruled it out when asked. His minutes tell the story his quotes won't.
The deal that happens is the one where a club pays £50 million in a structure Liverpool can accept and Gakpo sees 2,500-plus minutes next season instead of 1,800. Tottenham's recent sale gives them liquidity. City's squad thinning gives them need. Liverpool's valuation gives them control. What remains is whether any of those three positions shift before the deadline, or whether this becomes a summer conversation with six more months of data on where Gakpo actually plays when Darwin Núñez is injured and Mohamed Salah is rested. The monitoring continues. The phone calls have not yet started.
The takeaway
Gakpo's **78** minutes in six matches opened the door; Liverpool's **£50m-plus** ask determines whether City or Spurs walk through it.
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