Liverpool rejects £85M bid from Manchester City for Cody Gakpo

Liverpool have turned down an £85 million offer from Manchester City for Cody Gakpo, choosing to keep the Dutch forward as the Premier League transfer window enters its final stretch.

This is the first serious direct transfer negotiation between Liverpool and Manchester City since Raheem Sterling made the controversial switch to the Etihad back in 2015.

The numbers behind Liverpool’s stance

Gakpo arrived at Anfield in January 2023 from PSV for a fee reported between £35 million and £44 million. Since then, the 27-year-old has scored 33 goals in 91 Premier League appearances, more than doubling his value in the eyes of the market.

City’s £85 million bid represents a significant premium on what Liverpool originally paid. But in a window where Liverpool are reportedly closing in on Bradley Barcola from PSG for a deal worth up to £123 million, the Reds clearly believe they can’t afford to weaken their attack without adequate cover already in place.

Gakpo himself reportedly prefers a move to City over interest from Tottenham Hotspur, and has allegedly agreed to personal terms on a five-year contract at the Etihad. So the player’s desire isn’t the sticking point. Liverpool’s willingness to let him walk is.

Van Dijk weighs in

Captain Virgil van Dijk added a public dimension to the saga following Liverpool’s 2-2 draw against Nottingham Forest on August 30, 2026. The Dutch defender made clear his view that the club needs to retain quality players like Gakpo rather than cashing in.

The Barcola deal, if completed at £123 million, would represent a massive financial commitment. Selling Gakpo for £85 million would offset a significant chunk of that outlay. But Liverpool appear unwilling to sell first and shop later.

City’s negotiation playbook

Manchester City’s approach has reportedly involved offers framed around £75 million plus add-ons, with the headline figure reaching that £85 million mark.

City’s interest in Gakpo makes tactical sense. The Dutch international offers versatility across the front line, capable of playing on the left wing, through the middle, or dropping into deeper creative positions.

What this means for both clubs

Liverpool are also reportedly continuing to pursue additional attacking options beyond Barcola, which suggests they view Gakpo’s potential departure as something that would require more than a one-for-one replacement. Losing a player who has averaged better than a goal every three league games isn’t something you patch with a single signing.