The Anfield crowd booed during a 1-1 draw with Chelsea. That's not background noise — that's a signal. Arne Slot's position isn't under formal threat according to the club's hierarchy, but Liverpool fans have short memories when the football turns grey, and the betting markets have already started moving.
Xabi Alonso sits at 4/11 to become Liverpool's next permanent manager. That price says everything about how seriously the sportsbooks are taking this. He was the first choice before Slot was appointed, went unbeaten in the Bundesliga with Leverkusen and lifted the title in 2023/24, then got dismissed by Real Madrid in January. Whatever happened at the Bernabéu, it wasn't his fault — the place has been a mess since he left, with training ground incidents breaking out in his absence. He's a free agent. He knows Anfield. The fit is obvious.
The complication: Chelsea want him too
The wrinkle is that Chelsea are also chasing Alonso. If Slot survives the summer — which remains the club's stated plan — Liverpool could find themselves watching their top target walk to Stamford Bridge instead. At that point, the next conversation becomes a lot less straightforward.
Luis Enrique is priced at 11/2, which feels generous given that he appears set to extend his deal at PSG. He's in a Champions League final. The odds look shorter than the reality warrants.
Andoni Iraola at 7/1 is the genuinely interesting option. Three years at Bournemouth, European football within reach for the Cherries, and confirmed to be leaving the Vitality at the end of the season. The knock on him is whether he can handle a club of Liverpool's scale. But Slot's possession-heavy, passive style has frustrated large sections of the support — Iraola's high-intensity approach would be a clean break. Chelsea are also linked with him, which is becoming a theme in this market.
The longer shots worth a look
- Jurgen Klopp (7/1): He's said no. He's working at Red Bull. But the market won't fully let go, and neither will the fans.
- Julian Nagelsmann (7/1): Committed to Germany through Euro 2028, but a club like Liverpool could test that commitment.
- Oliver Glasner (9/1): Free agent when he leaves Crystal Palace this summer. Cheaper than the top names, with Premier League experience.
- Sebastian Hoeness (9/1): Stuttgart's manager was considered before Slot was appointed. Still on the radar.
The official line from Liverpool is that Slot is their manager next season. But official lines shift. If the end of this campaign brings more dropped points and more audible dissatisfaction from the stands, FSG has a 4/11 option sitting at home waiting for the phone to ring.
