Liverpool will need to reassess next summer's transfer strategy with one of their top targets no longer available.
The Reds are likely to be in the market for a new forward, particularly if Anfield legend Mo Salah doesn't sign a new deal - with his contract expiring at the end of the season.
With the futures of Virgil Van Dijk and Trent Alexander Arnold also up in the air, the summer of 2025 could be a pivotal one. However, Arne Slot won't be bringing one player who has consistently been linked with a move to Merseyside over recent months.
Liverpool miss out on Newcastle United forward with new contract agreed
Liverpool were thought to have lined up Newcastle United forward Anthony Gordon as their number one transfer target. The two clubs initially discussed doing a deal over the former Everton man a few months back, when the Magpies needed to balance the books to avoid breaking PSR.
However, the England winger - who went to Euro 2024 this summer with the Three Lions - now looks set to extend his stay on Tyneside.
According to transfer journalist Fabrizio Romano, Gordon has agreed a fresh deal at Newcastle.
The improved contract, which will run until June 2029, is set to be signed soon and confirmed by the club once all signatures are on the dotted line.
The deal will bring Gordon in line with Newcastle's highest earners and end any immediate prospect of the England international returning to Merseyside in the near future.
Like Liverpool, fellow title-challengers Arsenal were also believed to be interested in signing Gordon but will now have to turn their recruitment attentions elsewhere.
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FourFourTwo's verdict is that this is probably a smart move from Gordon, at this stage of his career. Since arriving at St James Park, the pacey wide man has improved immeasurably.
This is largely down to the fact he has been able to get a solid run of games at the top level, as a virtual guaranteed starter who has avoided serious injury. But also Gordon suits Eddie Howe's tactical set-up with an emphasis on aggressive, energetic pressing but also quick transitions. Newcastle, on a good day, play to Gordon's strengths.
A move to Liverpool at this stage of his career may have led to a serious challenge for the title. But it could have also disrupted his rhythm, having to learn under a new manager with a very different tactical style to Howe.
In addition, if Salah decides to extend his stay at Anfield into next season, there is no certainty that Gordon would have had a place in the regular starting XI.