Manchester City and Tottenham Hotspur are both monitoring Liverpool forward Cody Gakpo ahead of the closing stages of the summer transfer window, according to reports circulating in English football’s transfer market. The 25-year-old Netherlands international, who moved to Anfield from PSV Eindhoven in January 2023, has featured intermittently under successive Liverpool managers, and interest from two of the Premier League’s established powers suggests his position in Merseyside is being openly discussed at rival boardrooms.
The timing is notable. Several Premier League clubs returned from the opening weekend of the new league season with underwhelming attacking displays, prompting what multiple reports describe as a renewed urgency in the market. Manchester City, even after their run of four consecutive English top-flight titles, have been linked with forward reinforcements as Pep Guardiola seeks to maintain the club’s domestic and European competitiveness. Tottenham, under new sporting direction following their Europa League triumph, are understood to be evaluating options across the front line as they balance the demands of a deeper European schedule.
What happened
Gakpo joined Liverpool in the mid-season window of 2022–23 in a deal worth an initial £35 million, with add-ons potentially taking the figure above £45 million, as Liverpool sought to reinforce their attack during the latter part of that campaign. He has since made 84 appearances for the club in all competitions, scoring 22 goals, with usage patterns varying significantly between his first full season and the most recent campaign. Internationally, he has accumulated 35 senior caps for the Netherlands, scoring 12 goals, and was part of the Dutch squad at the 2022 FIFA World Cup in Qatar, where he scored three times in the group stage.
Liverpool have not publicly signalled any intention to sell. Gakpo remains under contract, and the club’s recruitment team is understood to be focused on bolstering other areas of the squad. That has not prevented rival clubs from registering interest, with reports suggesting both Manchester City and Tottenham have made informal contact regarding the player’s availability and valuation.
Separately, Aston Villa, who began their league campaign with a difficult result, remain in the market for attacking reinforcements. The Birmingham club has been linked previously with AC Milan’s Portuguese forward Rafael Leão, who is reported to have expressed openness in the past to a move to English football. Villa’s recruitment activity is being conducted alongside their participation in the UEFA Champions League, which has expanded the club’s commercial and competitive profile under Unai Emery.
Why it matters
The Premier League’s transfer dynamics carry implications that extend beyond individual club strategies. A potential bidding contest between Manchester City and Tottenham for a player under contract at a direct rival would highlight the financial capacity of both clubs and the willingness of Liverpool to engage in negotiations. Liverpool, whose model under Fenway Sports Group has historically placed a high value on squad continuity, would face a decision between cashing in on a peripheral first-team player and preserving depth heading into a season that includes Champions League football.
For Manchester City, any move would be assessed against the backdrop of the club’s 115 Premier League charges relating to alleged breaches of financial fair play rules, the independent commission hearing for which concluded in late 2024. The club has consistently denied wrongdoing. The optics of a major forward signing during a period of regulatory scrutiny have been raised by some supporters’ groups, though no formal rule prevents transfer activity pending the outcome of the case.
For Tottenham, the interest reflects a longer-term project under the club’s current ownership, with chairman Daniel Levy continuing to pursue players who can contribute both immediately and as part of a younger squad profile. Gakpo, at 25, would fit the age bracket Tottenham have targeted in recent windows.
For Gakpo personally, a move could offer a more defined role after a period in which his minutes at Anfield have fluctuated. At the Netherlands’ level, he remains a regular and featured prominently in the Dutch squad’s run to the semi-finals of UEFA Euro 2024.
Background and context
Liverpool’s acquisition of Gakpo in January 2023 was framed at the time as a forward-looking investment, with then-manager Jürgen Klopp identifying the player as a long-term option across the front three. The arrival of new manager Arne Slot in the summer of 2024 brought a tactical reset, and Gakpo’s role evolved, with extended runs in the side during Luis Díaz’s injury absence earlier in the 2024–25 season. He finished that campaign with double-digit goal contributions in all competitions.
The broader market context is shaped by the Premier League’s profitability and sustainability rules (PSR), which constrain losses over a rolling three-year period, and by UEFA’s squad cost ratio regulations. Several clubs have publicly disclosed transfer activity that took into account both frameworks. The Athletic reported in 2024 that Liverpool’s PSR position allowed for significant flexibility heading into the 2025 window, with the club having recorded substantial profits on player sales.
The interest in Gakpo also intersects with a wider trend of Premier League clubs targeting Eredivisie talent. PSV Eindhoven, Ajax, and Feyenoord have all supplied significant numbers of players to English football in recent seasons, and the Netherlands has become a recognised recruitment corridor. Scouts from Manchester City and Tottenham are understood to maintain regular presence in the Eredivisie.
Aston Villa’s interest in Leão, if pursued, would represent a more ambitious move. The Portugal international, 25, signed a contract extension with AC Milan in 2024 that includes a release clause reported in Italian media to be in the region of €175 million. Villa’s recruitment would likely depend on favourable conditions around that clause or on Milan’s willingness to negotiate.
What to watch next
The closing weeks of the summer transfer window are expected to bring greater clarity. Key indicators include:
Liverpool’s public and private stance. If the club signals that Gakpo is not for sale, the rumour may dissipate quickly. If there is openness to a loan or a structured sale with a buyback option, negotiations could accelerate.
Manchester City’s level of formal engagement. Reports of informal interest differ materially from a club-to-club approach. The shape of City’s squad after the departure of any further players in the coming days will determine whether attacking reinforcement is prioritised.
Tottenham’s parallel activity. Spurs have been linked with multiple forwards this window. Whether Gakpo becomes the primary target or one option among several will indicate the seriousness of the reported interest.
Aston Villa’s pursuit of Leão. Villa’s board and Emery will need to weigh the financial commitment against the sporting case. Any movement is likely to depend on whether Milan soften their valuation.
Gakpo’s own public comments. The player has not, as of writing, addressed the latest reports directly. Any statement from him or his representatives would provide a useful signal.
Analysis:
The convergence of Manchester City and Tottenham around a single target is uncommon and reflects both clubs’ assessments of their respective attacking needs. For Liverpool, the question is not solely financial but sporting. Gakpo’s versatility across the front line provides cover that would need to be replaced, either through the existing squad or via a new signing. Any sale would likely be conditional on the arrival of a replacement, particularly given the club’s Champions League commitments.
The wider significance of the rumour lies in what it reveals about the Premier League market at this stage of the window. With most major European leagues closing their windows earlier than England’s deadline, English clubs retain leverage to negotiate with sellers under time pressure. Both Manchester City and Tottenham, with substantial financial resources, are well placed to act. Liverpool, with a settled squad and a new manager’s preferences to honour, hold the stronger negotiating position.
The Gakpo story is, for now, a rumour grounded in scout reports and informal contact rather than formal bids. Whether it hardens into a transfer will depend on a narrow set of decisions in the coming days.
Conclusion
Transfer speculation is by nature provisional, and the reported interest in Cody Gakpo from Manchester City and Tottenham should be read with appropriate caution. That both clubs appear to be tracking the situation is, however, a meaningful indicator of how the player is viewed within the league, and it places Liverpool in a position where they will need to weigh squad depth against a potential capital gain. With the window approaching its final phase, the coming days are likely to determine whether this story develops into a concrete negotiation or fades into the background of a busy summer.
Sources
Guardian International
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Story synopsis gathered from: Guardian International — source
