Cody Gakpo Transfer Talks: Spurs and Liverpool Negotiations Heat Up

Cody Gakpo is no longer just a name on Tottenham’s shortlist. He has spoken to the manager, weighed up the project and, according to fresh reporting from the Netherlands, is now genuinely open to swapping Anfield for north London.

Dutch journalist Rik Elfrink reports that the Liverpool forward held direct talks with Roberto De Zerbi last month, a conversation that appears to have shifted the dynamic of this potential transfer. Gakpo, 27, left that meeting receptive to the idea of joining Spurs. The dialogue was not casual. It was about role, responsibility and how he would fit into De Zerbi’s attacking structure.

Crucially, Liverpool’s position has started to move as well. The club is now described as more willing to consider a sale, a development that drags this story out of the realms of speculation and into genuine negotiation territory between two Premier League rivals.

Direct talks with De Zerbi change the tone

Tottenham’s interest has been building for weeks. Earlier reporting from Voetbal International’s Joost Blaauwhof revealed that Spurs had formally registered their interest in Gakpo, with De Zerbi identifying him and Savinho as players who could offer different options across his frontline.

Elfrink has now gone a step further, detailing how advanced the communication has become. Posting on X, he wrote that Gakpo, “according to a usually well-informed source, already spoken with the Spurs coach last month. After that, the conclusion was that he is definitely open to a transfer to Spurs. Liverpool now seems willing to go along with it. There's still good money in it for PSV, so interesting enough.”

That exchange matters. Gakpo now knows exactly how De Zerbi plans to use him. Spurs, in turn, have clarity that the Netherlands international is open to their project rather than merely listening out of politeness. It is the kind of mutual interest that often precedes serious movement in the market.

The price point that will decide everything

Goodwill and enthusiasm do not close transfers. Numbers do.

SoccerNews report that Tottenham have already tested Liverpool’s resolve with an opening offer just over £60 million. That figure is expected to be rejected. Liverpool’s internal valuation is understood to sit around £70 million, a price that would represent a strong return on the fee paid to PSV Eindhoven when Gakpo arrived in January 2023.

If Spurs are prepared to edge closer to that number, this has the makings of a straightforward negotiation. Liverpool have little reason to fold for less. Gakpo is an established Premier League attacker, comfortable off the left, through the middle or in various hybrid roles across the front line. That versatility carries a premium, particularly in a squad already undergoing major change.

For now, the gap between £60 million and £70 million is where this deal lives.

Barcola pursuit looms over Liverpool’s call

Liverpool’s willingness to sell is not just about price. It is also about what comes next.

The club are actively pursuing Paris Saint-Germain winger Bradley Barcola as part of a broader reshaping of Andoni Iraola’s attack. Mohamed Salah has already departed. The forward line is being rebuilt on the fly, and that makes timing as important as the fee.

If Liverpool make significant progress on Barcola, Gakpo’s situation becomes more fluid. His departure would free up both space in Iraola’s attacking group and a sizeable chunk of transfer income. Without that progress, selling him becomes far more dangerous.

The club must balance numbers in the final third, especially when Gakpo still offers goals, Premier League experience and tactical flexibility. He can frustrate supporters with inconsistency, but across a long, demanding season, those attributes remain valuable.

There is also a knock-on effect for PSV. Elfrink notes that the Dutch club stand to benefit from the solidarity mechanism if Gakpo joins Tottenham, adding another interested observer to the negotiations.

Spurs sense opportunity, Liverpool weigh the risk

From Tottenham’s side, the picture is clear. They want Gakpo. They have a manager who has already invested time in speaking to him, outlining a role and selling the project. The player has responded positively. That is not a guarantee of anything, but it is a major hurdle cleared.

Liverpool still control the situation. They have the contract, the valuation and the power to say no. Yet the ingredients for a deal are now visible: a willing buyer, an open player and a seller prepared to talk at the right price.

The final decision may hinge on two questions: how quickly Liverpool can secure Barcola or another elite attacking option, and how far Tottenham are prepared to push towards that £70 million mark.

Because if Spurs do step up with the money, Liverpool will have to decide whether cashing in on Cody Gakpo – and potentially strengthening a direct rival – is a risk they can afford in the middle of another major rebuild.