Liverpool FC · Investigation · April 2026
A question independent of this season's results
Imagine Liverpool were flying. Top of the table. The football was beautiful and the fans were happy. We knew what a Liverpool goal looked like. The team looked fit as butcher's dogs — and even well coached. And we weren't way, way, way too open. Assume all of that. This investigation would reach the same conclusion. Because . . . FSG.

Liverpool have quietly assembled a squad that doesn't fit the manager in the dugout — and fits perfectly the one who isn't.

Strip away the results. Strip away the injury list. Look only at what's been built, signing by signing. The pattern points somewhere the club hasn't gone yet — and getting there costs £255m less than staying where it is.

John Ricketts  ·  April 2026

The argument

This is not about a bad season. It's about what Liverpool have been building — regardless of results.

The usual case for changing Liverpool's manager starts with the table. Fifth place. No silverware. A Champions League exit to PSG. But that case has an obvious counterargument: injuries, a tough draw, second-season variance. It can be dismissed.

This investigation makes a different case — one that cannot be dismissed that way. Look past the results entirely. Assume Slot is doing brilliantly. Assume the squad is fit and the football is good. The question remains: who was this squad actually built for?

The answer, signing by signing, is not the manager currently in the dugout.

The evidence — building by building

Six decisions. One pattern. None of them explained by the system being played.

Decision 01 — Two players signed from Xabi Alonso's Leverkusen squad

Summer 2025
Jeremie Frimpong — right wingback Leverkusen
Frimpong's value as a footballer is inseparable from one specific role: right wingback in a back three, licensed to attack relentlessly with defensive cover behind him. That role does not exist in a 4-3-3. He was recruited for a system that was not being played.
Summer 2025
Florian Wirtz — free interior Leverkusen
At Leverkusen, Alonso built the entire tactical framework around Wirtz as a roaming free 10 behind twin strikers. He was never asked to track back or cover ground. In Slot's 4-3-3 he has been used as a structured eight — the opposite of the role that made him elite. £116m. Still searching for his best form.

Two players from the same manager's squad, both stripped of the roles that defined them. Even if Liverpool were top of the league, this mismatch would exist.

Decision 02 — Four centre-backs in eight months

A back four requires two centre-backs with one in reserve. Liverpool already had Van Dijk and Konate when this sequence began.

CB acquisitions · Aug 2025 – Feb 2026
Giovanni LeoniSummer 2025
Mor NdiayeJan 2026 — immediate
Ifeanyi NdukweJan 2026 — summer
Jérémy Jacquet — left-footed, ball-playingFeb 2026 — £60m

A back three needs three quality starters — left-footed on the left, ball-playing throughout — plus depth behind them. That is exactly the profile of this accumulation.

Decision 03 — Two world-class strikers signed for a partnership the system never uses

Alexander Isak (£125m) and Hugo Ekitike (£79m) arrived in the same window. In a 4-3-3 they compete for one position. In Alonso's 3-4-1-2 they are the twin strikers — mirroring exactly the Boniface-Schick partnership at Leverkusen. The combined £204m is only rational as an investment in a system that starts both.

Decision 04 — Salah's contract extension, then early release

In April 2025 Liverpool agreed a two-year extension with Salah, securing him until 2027. Within twelve months they agreed to release him a year early. A traditional right winger cutting inside to score is the defining role of a 4-3-3. It does not exist in a 3-4-1-2. Agreeing an extension and then unwinding it is not a small decision — it is a positional statement about the shape that is coming.

Pattern assessment

None of this requires the season to be going badly.

Frimpong would still be miscast in a back four if Liverpool were top of the league. Wirtz would still be playing the wrong role. The centre-back accumulation would still only make sense for a back three. Salah would still have been released from an extension he'd just signed. The pattern exists independent of results.

The fit

Position by position, the squad Alonso would inherit is closer to ready than the one Slot is working with.

Alonso's system at Leverkusen was a 3-4-1-2: three ball-playing centre-backs, attacking wingbacks providing all width, a deep-lying distributor as the pivot, a free 10 roaming behind twin strikers. Map that onto Liverpool's current squad and the pieces are already there.

Squad fit — Slot's 4-3-3 vs Alonso's 3-4-1-2
Frimpong as RWBSlot: a conundrum · Alonso: natural home
Wirtz as free 10Slot: structured 8 · Alonso: built for this
Isak + Ekitike as twin strikersSlot: compete for one spot · Alonso: the plan
Van Dijk + Konate + Jacquet as back threeSlot: one plays, two cover · Alonso: elite back 3
Kerkez as LWBSlot: good LB · Alonso: great LWB

Same player. Different role. Different ceiling. — Kerkez is a good left-back in a back four. In Alonso's system, with a back three behind him, he becomes a genuine attacking weapon. Zero additional cost.

The only genuine gaps for the Alonso system are a proper deep-lying six — Adam Wharton is the reported target — and a bridge striker while Ekitike recovers from his Achilles. Everything else is already in the building.

The numbers

Building a title-contending squad under Slot costs £255m more. For largely the same players.

The cost gap is structural, not incidental. Slot's 4-3-3 requires two wide forwards the squad doesn't have — Salah is leaving, Diaz left last summer. Alonso's system gets all its width from wingbacks already here. That single difference accounts for the majority of the gap.

Slot — 4-3-3Required additions
RW
Salah gone. No replacement.
£90m
LW
Diaz gone. Gakpo underperforming.
£65m
CM / 6
Endo long-term. Midfield exposed.
£70m
LB
Robertson gone. Kerkez miscast in back four.
£45m
CB
Jacquet untested. Need cover.
£55m
Striker
Ekitike out till 2027.
£25m
Minimum additional spend~£350m
Alonso — 3-4-1-2Required additions
6 — Wharton
The system's pivot. The Xhaka role.
£75m
Striker cover
Bridge until Ekitike returns.
£20m
Minimum additional spend~£95m
Additional spend to title-contend · estimated
Slot — 4-3-3~£350m
Alonso — 3-4-1-2~£95m

The gap is ~£255m. The squad the club has already built is £255m closer to being ready for one system than the other.

The counter-evidence

The case for keeping Slot is real. It should be weighed honestly.

ArgumentAssessment
He won the league in year oneNot a fluke. The quality is evidently there. Valid — and this paper doesn't dispute it. A second-season dip doesn't erase that. The argument here is not that Slot has failed. It is that the squad is being built for something else.
Injuries wrecked this seasonEndo, Ekitike, Isak, Leoni, Frimpong — rarely available together. Partially valid — but the positional mismatches predate the injuries. Wirtz was playing the wrong role from day one. The pattern exists independent of the injury list.
FSG reportedly intend to keep SlotOrnstein: Alonso not currently on Liverpool's agenda. The Athletic Currently accurate. This paper does not claim otherwise. Position papers exist precisely to challenge settled assumptions before they become irreversible.
Alonso's Madrid exit raises questionsSeven months. Mutual consent. Disputes with key players. Real risk. But Madrid's politics have broken stronger managers. The Leverkusen record — and his specific knowledge of Wirtz and Frimpong — remains intact.
World Cup summer makes transitions harderCompressed pre-season, late returns. Real constraint. But Alonso already knows two of the most expensive players in the squad. The transition cost here is lower than it would be for any other incoming manager.
Finding

The data makes one argument — regardless of where the table ends up.

Strip away the bad season. Ignore the injuries. Pretend Liverpool finish second, Slot looks like a genius, and everything is fine. The recruitment pattern still exists. The positional mismatches still exist. The four centre-backs still only make sense for a back three. The £255m gap still sits there.

That is the argument this investigation makes — and it is the one argument that injuries and variance cannot explain away.

Finding

The verdict is Twist.

Not because of this season. Because of what Liverpool have been quietly building across eighteen months — independent of results, independent of the injury list, independent of wherever the table finishes in May.

The squad fits one system and one manager with unusual precision. That system has never been deployed at Anfield. That manager is available. Getting there costs £255m less than staying where Liverpool currently are.

History will judge FSG not on whether they were loyal to Arne Slot — but on whether they were brave enough to recognise what their own recruitment had already decided.