Manchester City have been found guilty of financial rule breaches and may face severe punishments if their appeal fails, but Liverpool could be there to benefit
Andoni Iraola, Manager of AFC Bournemouth, and Antoine Semenyo embrace as they celebrate the team 2-1 victory after the Premier League match between Arsenal FC and AFC Bournemouth
Andoni Iraola could be in for a reunion at Liverpool if disaster strikes Manchester City(Image: Getty)
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Manchester City could face a range of devastating punishments should their appeal against financial rule breaches be unsuccessful. And if star players are either forced or choose to leave, Liverpool could welcome some City escapees into a drastically different starting XI.
The footballing world was bombarded this week by the news that City have been found guilty on 114 of the 115 charges they faced. These span a nine-season period between 2009 and 2018 and it was determined that they deployed "sham" deals and payments to hide over £900million in owner funding, as well as being uncooperative with the investigation, which began eight years ago.
City maintain their innocence and lodged an appeal on Friday. But if the tribunal upholds the verdict, then another independent commission will meet to determine their punishment. This could range from stripping titles to relegation or heavy points deductions.
Goalkeeper
Whilst it might be tempting for Liverpool to court Gianluigi Donnarumma, it is far more likely he heads back to mainland Europe in this theoretical scene and Alisson still has a few more years in him at age 34.
Alisson Becker of Liverpool in action during the Premier League 2026/27 match between AFC Bournemouth and Liverpool FC at Vitality Stadium
Alisson is still No. 1(Image: Getty)
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Not to mention, the Reds made a move on deadline day in August to sign 18-year-old Belgian goalkeeper Lucca Brughmans from KRC Genk for up to £30m. He could well be the next in line and Donnarumma's wages are also extortionate.
Defenders
Milos Kerkez has come under scrutiny this campaign at left-back. While Liverpool have shipped the third-fewest goals in the top-flight, the Hungarian has left plenty to be desired with his displays. He is yet to register a goal contribution this season. As a result, the Reds could be among the presumed array of suitors eager to snap up Josko Gvardiol if worst comes to worst.
The Croatian left-sided defender has emerged as one of Europe's most prolific goal-scoring defenders since his switch to City from RB Leipzig in 2023. He has found the net 14 times in all competitions as a City player and ranks in the top 10 per cent of full-backs or centre-backs across Europe for total touches per match this term.
Josko Gvardiol of Manchester City during the Premier League match between Manchester City and Burnley at Etihad Stadium
Gvardiol is a fine left-back(Image: Getty)
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He could fill in at left-back but also provide cover at left-centre-half should the need arise. Few sides across Europe would reject the opportunity to bring him in, but the Reds could present him with a reunion alongside Dominik Szoboszlai and it has been reported that the 24-year-old grew up a Liverpool fan. Jeremy Frimpong can keep his place at right-back.
Liverpool did splash out considerably on £60m signing Jeremy Jacquet this summer and Ronald Araujo joined from Barcelona on an initial loan deal. If the club wishes to make that permanent, they can for £47m. Giovanni Leoni is also injured, but when he recovers, the Reds' central-defensive options would appear robust. There is, however, a Virgil van Dijk-sized elephant in the room.
Van Dijk is 35 and approaching the twilight of a legendary career. While Jacquet could move across and Leoni or Araujo step into the first XI, there might be an even more fitting and battle-tested option available following a hypothetical City departure.
The Reds came within touching distance of securing Marc Guehi in the summer of 2025 but Crystal Palace pulled the plug and he moved to City in January. Able to operate as a left-sided centre-half, this saga could be vindicated and Guehi could ultimately make Anfield home should he depart the Etihad.
Marc Guehi of Manchester City gives a thumbs up during the Premier League match between Manchester City and Wolverhampton Wanderers
Guehi was close to becoming a Red last summer(Image: Getty)
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For the time being, he'd feature right alongside Dutch colossus Van Dijk, but when the Reds captain chooses to hang up his boots or depart for a farewell campaign elsewhere, Guehi could switch over to the left and Jacquet can link up with him, with Araujo and Leoni lurking as backup.
Midfielders
Both Elliot Anderson and Enzo Fernandez would be brilliant additions to the Reds' midfield, as would Ayyoub Bouaddi. But with Szoboszlai firing on all cylinders and Alexis Mac Allister the perfect partner in an energetic double pivot, the midfield can be left alone. City's midfielders are on high wages and there are simply other priorities at Anfield.
If Mac Allister's contract situation goes south, this could be revised, but as things stand, the focus should be on strengthening the partnership between Szoboszlai and the Argentine, not ousting one of them. Florian Wirtz can get the chance to make the No. 10 his own and can't be given up on yet, despite Rayan Cherki and others appealing.
Strikers
Antoine Semenyo is a complete no-brainer. Yes, Liverpool have just splashed £123m on Bradley Barcola to strengthen their attacking ranks. Nevertheless, the versatile Semenyo was rejuvenated by Iraola at Bournemouth and bringing the pair back together would likely be straightforward when it comes to personal terms.
Semenyo could feature on the right flank and would serve as a genuine replacement for Mohamed Salah. Under Iraola on the South Coast, he netted 31 goals in 99 appearances before his move to City in January 2026.
Antoine Semenyo of Manchester City during the Emirates FA Cup Third Round match between Manchester City and Exeter City
Semenyo could replace Salah(Image: Getty)
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That leaves the left wing open for Barcola, with the likes of Jeremy Doku passed up to let the new Frenchman settle in. Up front, whilst entering the Erling Haaland stakes could be a temptation, Liverpool are more than sorted.
Alexander Isak is finding his feet and if he is sidelined or hits a rough patch, Hugo Ekitike will soon be there to lend a hand. As much as it feels wrong to say, there is no need for the Norwegian on Merseyside.