Liverpool Eye Rayan Cherki Transfer as Manchester City Face Relegation Threat

Liverpool are reportedly monitoring Rayan Cherki as uncertainty surrounding Manchester City begins to create an intriguing transfer market subplot.

According to TeamTalk, the Reds are among several major European clubs keeping watch on the France international, with Paris Saint-Germain, Chelsea and Real Madrid also interested.

Much depends upon what happens next at Manchester City. Having been found guilty of 114 breaches of Premier League financial rules, City face potentially severe sanctions, including the possibility of relegation.

Should that happen, one of European football’s most valuable squads could suddenly become accessible.

Cherki would inevitably attract attention.

Liverpool Transfer Interest in Rayan Cherki

Liverpool’s admiration for Cherki is hardly new.

The club were strongly linked with the attacking midfielder before his move from Lyon to Manchester City in June 2025. City eventually paid £30.4m for him, securing one of France’s most gifted young creators.

Eighteen months later, circumstances could offer Liverpool another opportunity.

TeamTalk reports that Liverpool are monitoring developments, although City would expect considerably more than their original investment should Cherki become available.

That seems inevitable given his progress.

Cherki has started the season impressively, including two goals in City’s 4-1 victory at Crystal Palace in August. Enzo Maresca described his display as a “complete” performance.

For Liverpool, the attraction is obvious. Cherki possesses imagination, close control and the capacity to manufacture chances in crowded areas, precisely the sort of qualities elite teams increasingly require against deep defensive structures.

Manchester City Punishment Could Transform Transfer Market

Everything remains dependent upon City’s punishment.

Relegation, particularly if City were sent down more than one division, would dramatically alter the position of players who joined the club expecting Champions League football and regular competition for major trophies.

Liverpool would hardly have the market to themselves.

PSG are reportedly willing to take Cherki back to Ligue 1 if an opportunity emerges, while Chelsea and Real Madrid are also keeping watch.

Any City fire sale could therefore become one of football’s most extraordinary transfer scrambles.

Cherki, still only 23, would surely sit near the front of the queue.

Anfield Meeting Offers Liverpool Close Look

There is an appealing coincidence to the timing.

Manchester City visit Anfield on Sunday, giving Liverpool an immediate opportunity to examine Cherki at close quarters during what promises to be an unusually charged occasion.

His performance will not determine Liverpool’s thinking. Recruitment departments operate with considerably more sophistication than judging players over 90 minutes.

Still, there would be something fitting about Cherki arriving at Anfield wearing City colours while Liverpool quietly contemplate whether he might eventually return wearing red.

For now, this remains a transfer possibility rather than anything approaching an imminent deal.

Yet City’s predicament means possibilities that once seemed fanciful suddenly deserve consideration.

Cherki escaped Liverpool’s grasp once. Circumstances may yet offer them another opportunity.

Our View,  Anfield Index Analysis

From a Liverpool perspective, this is exactly the sort of situation the recruitment team should be watching carefully.

Nobody yet knows precisely what punishment Manchester City will receive, but Liverpool would be negligent if they were not assessing which players might become available should relegation trigger a significant exodus.

Cherki is particularly intriguing because Liverpool’s interest predates his move to Manchester.

He was attractive then and, after proving he can influence Premier League matches, he would arguably be an even more compelling proposition now.

The question concerns where Liverpool would use him.

With Florian Wirtz already occupying creative areas, spending a substantial fee on another player who wants the ball in similar spaces would require careful thought. Cherki’s versatility helps, particularly his ability to operate from the right and drift centrally, but Liverpool should be looking for complementary qualities rather than collecting gifted attacking midfielders.

There is also the price.

City paid £30.4m, but nobody should expect Liverpool to acquire him for anything resembling that figure unless City’s circumstances force their hand. Even after relegation, competition from PSG, Real Madrid and Chelsea could preserve his market value.

Still, this is one Liverpool should watch.

If City’s punishment creates a genuine opportunity, Cherki would be among the players worth serious consideration. The most fascinating part comes on Sunday. Liverpool supporters might find themselves watching one of City’s most dangerous players while wondering whether, eventually, Anfield could become his home.