A 70 million number under review
Tottenham have wanted Cody Gakpo for most of this window. The figure attached to him has been £70million. That figure may not hold much longer.
Liverpool.com reported this morning that FSG are weighing a higher valuation, and the reason sits in west London. Chelsea are negotiating a move that would send Pedro Neto to Al-Hilal for around £100million. Once one Premier League winger carries that price, selling the next one cheaply becomes awkward.
The comparison does not flatter Neto. Since arriving from PSV Eindhoven in January 2023, Gakpo has 50 goals and 23 assists in 180 appearances for Liverpool, a goal involvement every 2.47 games. Neto, a year younger, has 19 goals and 19 assists in 103 Chelsea games, one every 2.7. Gakpo also has a Premier League title on his record from 2024/25, a season in which he outscored the Portuguese by a clear margin.
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Why Liverpool would sell at all
Andoni Iraola inherited an attack without Mohamed Salah, who left on a free, and a squad that finished fifth last season. His answer has been to look at Paris.
Liverpool have lodged a €115million offer for Bradley Barcola and hold personal terms in principle with both Barcola and Ibrahima Mbaye. Land one of them and Gakpo’s minutes shrink. Land both and he becomes sellable.
Roberto De Zerbi has already done his part of the work. Sources indicate the Spurs manager persuaded Gakpo personally, setting out the role waiting for him in north London.
Not close, though
The deal sits further away than the noise suggests. The two clubs have not opened negotiations with each other. Player and Spurs have talked, Liverpool and Spurs have not.
Gakpo also keeps making the case for staying. He scored and set one up in Sunday’s 2-0 win over Como and is expected to start at Newcastle in Liverpool’s Premier League opener this weekend. His contract runs to June 2030, which remains the strongest card FSG hold.
Journalist David Lynch, speaking on the Anfield Index podcast, framed the sequence plainly. “One thing you can say is Liverpool want two, particularly if they’re going to let Gakpo go. One of them I expect to be Barcola.”
The order matters. Nothing moves on Gakpo until Paris moves first.
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