Cody Gakpo's Dilemma: Liverpool vs Tottenham

Cody Gakpo finds himself at a crossroads. Liverpool see a player who has flickered rather than burned. Tottenham see an opportunity.

The numbers alone tell part of the story. Signed for under £45 million from PSV, Gakpo could now command up to £70m if Spurs push hard enough. For a player whose Anfield career has yet to fully ignite, that kind of profit will make any boardroom pause.

Liverpool know exactly what they bought. In Eindhoven, Gakpo was a relentless producer: goals, assists, influence from the left flank or drifting inside. In the Premier League, he has become something else entirely – a seasoned performer, yes, but one whose impact swings from sharp to subdued too often for a club with title ambitions.

That inconsistency has opened the door. Tottenham are ready to test Liverpool’s resolve and, crucially, their squad planning. At the right price, the conversation changes. Cashing in on a saleable asset would give Andoni Iraola room to reshape his forward line, provided a suitable replacement is lined up.

Michael Owen, who knows the weight of the Liverpool shirt as well as anyone, did not sugar-coat his assessment when speaking to GOAL. He pointed to a bright start followed by a long, flat stretch.

“He was consistent last year, but consistently poor,” Owen said, noting a strong opening spell before a season that sagged badly. For him, Gakpo’s dip was part of a wider malaise. “It was a poor season,” he added, stressing that the Dutchman has still shown he can be “very effective” in this Liverpool side when the pieces click.

That tension sits at the heart of Liverpool’s dilemma. Gakpo has already proven, over time, that he is a very good player. Last season, he was not. Do you back the body of work, or the most recent evidence?

Owen can see both sides. He floated the risk of leaving the squad short if Liverpool sell without a clear replacement ready. Lose Gakpo and the club’s already thin supply of wide options stretches even further. Are they really prepared to lean on a youngster like Rio Ngumoha across a full campaign? Only if reinforcements arrive first, Owen suggested. Without that, any sale feels like a gamble.

The market, though, rarely waits for certainty. Transfer specialist Fabrizio Romano has reported that Spurs are already in “direct talks” with Gakpo’s camp over a possible move this summer. The deal, as ever, hinges on the financial package and on Liverpool’s ability to bring in new faces of their own.

One of those names sits in Paris. Bradley Barcola, the 23-year-old France international, has been heavily linked with a move to Anfield. With Paris Saint-Germain reportedly open to an exit, Liverpool sense an opportunity to refresh their attack with a Champions League winner entering his prime. Any serious move for Barcola would naturally feed back into the Gakpo equation.

Amid all the noise, the player himself still holds a significant share of power. Gakpo must decide which environment best serves both his club career and his standing with the Netherlands. On the international stage, he has looked more like the PSV version of himself – direct, dangerous, and alive in big moments, including flashes at the 2026 World Cup.

Asked why he seems more consistent for his country than for Liverpool, the Eindhoven native offered a simple explanation: role and freedom. “It’s a little bit different,” he said. “How I play here, where the coach wants me to be, the freedom that I have at the club. That’s it basically.”

That line cuts to the heart of the debate. Is Gakpo a misfit in this Liverpool structure, or a talent still adapting to a demanding system and a changing team around him? Tottenham appear convinced there is more to come. Liverpool must decide whether they want to be the club that unlocks it – or the one that cashes in before someone else does.