Trent Alexander-Arnold snubs deal, Arne Slot gets it wrong - Liverpool's nightmare transfer window

It's an exciting time to support Liverpool. As Arne Slot embarks on what will be the most intriguing pre-season for some time, with the Reds no longer under the management of Jurgen Klopp, interest is high — but anxiety levels are slowly creeping up too, with a nightmare summer transfer scenario slowly forming.

There's been a distinct lack of business so far. Richard Hughes explained the factors behind potentially making transfer moves later in the window this summer, amid changes behind the scenes at Liverpool coupled with the major international tournaments, but that will become more unnerving the longer it drags on.

With Michael Edwards back at FSG overseeing the big picture at Liverpool, the transfer department appears to be in good hands, and supporters have learned to more or less trust the process. But even the most sanguine fan will be getting gradually more twitchy over the contract situation, with Trent Alexander-Arnold now into the final year of his deal.

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He's joined by other top stars in that particular boat, underlining that Liverpool has far more than just transfers to sort out this summer. It could yet end up being a dream window at Anfield, but here's how things could pan out if it all goes horribly wrong...

Trent Alexander-Arnold leads contract rebellion

There are a number of reasonable explanations as to why Alexander-Arnold is yet to sign a new contract. The most plausible is quite simply that Liverpool has not had the time to sort it out.

The structure which manages such things has been in major flux for quite a long time. Edwards left his initial post as sporting director two summers ago, leaving Julian Ward to take up the mantle. But he lasted just one year, and Jorg Schmadtke came in on a temporary basis.

Schmadtke was never likely to be the one to lead such important negotiations. And it was never really the right moment last season anyway, as Liverpool concentrated on a title push.

But the upshot is that Alexander-Arnold is into his final year, and can talk to clubs abroad about a free transfer in a little under six months. That's the absolute nightmare scenario.

Losing Alexander-Arnold at all would be bad enough. But losing him for nothing, when he is surely the club's most valuable asset, would be an absolute body blow.

The Academy graduate should be nailed on as a future captain. But what if "Agent Trent" backfired, and Jude Bellingham has got in his head about a move to Real Madrid? It's alarmingly plausible.

Alexander-Arnold is now priority number one, but Mohamed Salah and Virgil van Dijk are also out of contract soon. Losing the club's three top earners, and perhaps the three most important players, would be a travesty.

Saudi interest in Mo Salah crystallizes

An added component with Salah is that there is very real transfer interest in him this summer. Should he refuse to sign a new deal, the prospect of him leaving immediately begins to loom large, with Saudi Arabia still keen on his services.

At least Liverpool would bank a fee this way. But it would be an inauspicious start to Slot's reign, given that Salah has been the team's most important player ever since he arrived in 2017.

It's already a daunting task taking over from Klopp. Doing so without Salah would certainly make things more difficult, and Liverpool should be doing everything to hang onto him.

After all, how would Liverpool reinvest the Salah money? It might secure a talent for the future, but there's nobody in world football for any price who can immediately arrive and have the same impact he has had.

Anthony Gordon and Leny Yoro slip away

Okay, so it's actually quite likely that Liverpool end the summer without Leny Yoro or Anthony Gordon. But coupled with other factors, that could end up being a big problem.

According to the ECHO, Yoro is being targeted because he is a generational talent, not because Liverpool is prioritizing a new center-back. That tallies with what Hughes has said about being "opportunistic".

Likewise, exploring a Gordon move came about because of Newcastle's PSR struggles. But now June 30 has come and gone, the window appears to have closed, while Yoro seems to be leaning towards Real Madrid (yep, them again).

Opportunism is good. But when the opportunities don't materialize, Liverpool needs to have a Plan B. If it decides to rest on its laurels after a failure to land Yoro and Gordon, it could leave the squad short.

Arne Slot misjudges the squad

Another reason for transfer business taking longer this summer is the need for Arne Slot to assess the squad. He will work in conjunction with Hughes on mapping out the deals that needs to be done, and needs time in pre-season to run the rule over his existing options.

That makes sense on paper, but it's a big ask for Slot to make all the right calls based off a combination of his pre-existing impressions and what he sees in training and friendly fixtures. What if he gets it wrong?

In particular, decisions like whether Liverpool need a specialist number six will shape the season. If Slot takes a shine to Stefan Bajcetic or Wataru Endo, or likes the look of Alexis Mac Allister in the deeper role, he might decide a transfer is not necessary.

That might be the correct call. But there's a huge amount of pressure on Slot's shoulders to get it right.

One misstep, and Liverpool could leave itself light in important positions. Just as bad, it could waste lots of money and block pathways for promising youngsters.

Richard Hughes struggles to make sales

As well as buying, Hughes inherits a big responsibility when it comes to selling. FSG runs the club sustainably, and Liverpool relies on a steady stream of income from player trading. In the past, Edwards was the master of that art. But Hughes is yet to chalk up any early wins.

Liverpool is holding a hard line, valuing the likes of Caoimhin Kelleher and Sepp van den Berg very highly indeed. It's also rejected a $5.1m (£4m/€4.7m) bid for Nat Phillips, holding out for double that amount.

That's all well and good, but if nobody proves willing to meet these demands, Liverpool will be shooting itself in the foot. These assets will only get less saleable as their contracts tick down, and unless the Reds are genuinely willing to integrate them into the first-team plans (very clearly not the case with Phillips), then the pressure is on Hughes to cash in.