Cody Gakpo came close to joining Manchester City in a sensational deal before the end of the transfer window, but the forward has gone on to show his value to Liverpool this season
LIVERPOOL, ENGLAND - AUGUST 31: Cody Gakpo poses during the official UEFA Champions League 2026/27 portrait session on August 31, 2026 in Liverpool, England. (Photo by Michael Regan - UEFA/UEFA via Getty Images)
Cody Gakpo came close to leaving Liverpool during the summer(Image: Getty Images)
Cody Gakpo has been told he isn’t worth $120 million, despite his impressive start to the season and Manchester City’s transfer interest.
Gakpo has made a superb start to the 2026/27, having directly contributed to four of Liverpool’s six goals so far. Having scored on the opening day against Newcastle, the Netherlands international followed up with an assist against Nottingham Forest before adding two more in Friday’s 2-0 win over Ipswich.
Had things turned out differently before the transfer deadline though, the Reds would never have seen his latest standout display, having come close to trading Anfield for the Etihad Stadium.
Gakpo looked to have been on the way to City late on in the window, with Bradley Barcola’s arrival from Paris Saint-Germain putting his future into doubt.
With no other wingers incoming though, Liverpool rejected its rival’s $108M offer, and has continued to reap the rewards of Gakpo’s return to form.
Former Red Jason McAteer though believes the 27-year-old is not worth what City was willing to pay, and believes the fee was a result of the situation in the transfer window.
IPSWICH, ENGLAND - SEPTEMBER 04: Cody Gakpo of Liverpool runs with the ball under pressure from Jacob Greaves of Ipswich Town during the Premier League 2026/27 match between Ipswich Town and Liverpool FC at Portman Road on September 04, 2026 in Ipswich, England. (Photo by Liverpool FC/Liverpool FC via Getty Images)
Cody Gakpo impressed again in Liverpool's win over Ipswich(Image: Getty Images)
“When you look at some of the transfer fees across this window – 152 transfers in total – some of the numbers blew me away,” McAteer told 10bet.
“Sandro Tonali for £100 million ($135M), Savinho for £75 million ($101M) – they’re very good players, but are they match-winning, world-class talents to justify those fees?
“When deadline day approaches and a club identifies late holes in their squad, prices skyrocket. Take Gakpo, for example: is he an £85–£90 million (around $120M) player? Probably not, but if Manchester City come knocking on the final day, the selling club sets a premium price.
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“When first- and second-choice targets fall through due to agent fees or pricing, you work your way down the list. To the outside world, it looks like desperation, but it’s often just the reality of trying to complete deals before the deadline closes.”
Despite coming so close to leaving the club, Gakpo has played a vital role for Liverpool this season, with head coach Andoni Iraola singing his praises.
"I had no doubt with Cody," he said after the win at Ipswich. "He has been very good, all of pre-season. He has started very well this season, producing numbers.
IPSWICH, ENGLAND - SEPTEMBER 04: Andoni Iraola, Manager of Liverpool, looks on after the Premier League 2026/27 match between Ipswich Town and Liverpool FC at Portman Road on September 04, 2026 in Ipswich, England. (Photo by Liverpool FC/Liverpool FC via Getty Images)
Andoni Iraola is in no doubt about Gakpo's value to Liverpool
"I think Cody knows how much we value him. I think there is no doubt. I rate him very highly.
"He has strong competition for minutes because we have good players in those positions, and it is a matter of pushing each other. With Bradley, with Rio [Ngumoha], with Victor [Munoz].
"Sometimes they will start, sometimes they will come from the bench, sometimes they will not play. But this competition is going to be good for our game.”