Arne Slot landed the Premier League in his first season with Liverpool, and while it didn’t work out well for the Dutch boss after that, nobody can take that title away from him. Over the years, the Reds have consistently won trophies, meaning that few of their managers who have stuck around have left the club without at least one piece of silverware to their name.
Andoni Iraola has not got off to the best start in his career as manager of the 20-time Premier League champions, but it is early days. Liverpool are not a club that tends to be too impatient with managers, even if Slot was hardly afforded too much time in the end. As such, the Spanish manager can expect to be given time to shape the squad to his needs and get his ideas across to the players.
Even so, it would help him massively if he could guide the club to a trophy this year. Given how poor Liverpool were last term, a piece of silverware and a top-four finish would probably be viewed as a good campaign for Iraola and his troops. It would keep the fans in his corner, increase buy-in from the players and mean he could get on with his job without pressure from the media or the club hierarchy. But can the Reds deliver?
Champions League Win Unlikely
Iraola’s side started their league-phase campaign in this season’s UEFA Champions League well, beating Atletico Madrid 2-1 at home. Such is the strength of the Premier League right now – all five English clubs won their opening fixtures – that it would be a big surprise if any of the English quintet fell at the first hurdle.
They could very well all make the top eight, and we would certainly expect Iraola’s side to do so. Beyond that, we would also think Liverpool should be good enough to beat one of the play-off sides in the last 16. However, we do not believe they have the quality or experience to go all the way in this season’s Champions League.
Quite how far they go will depend on the luck of the draw and how their season plays out. But PSG are a special side, while Barca are starting to look more and more like the real deal and are packed with youngsters who will only get better. And they now have Rodri. Real Madrid, Bayern and Arsenal might also prove too good for the Reds and so overall it is hard to see them winning a seventh UCL/European Cup this term.
The bookmakers agree with that assessment, and after the first round of league-phase fixtures, Iraola’s side are priced at odds of around 22/1. That puts them in the “dark horse” category, but realistically we expect one of the six clubs at single-digit odds (the five mentioned above, plus Manchester City) to prevail.
And the Same Applies in the Premier League
The Premier League is just four games old at the time of writing, but the Reds are already 35/1 outsiders for the title. They have dropped six points behind Arsenal and Man City already. The former are the odds-on favourites to defend their title, with Man City priced at 9/4. They both boast 100% records, while in contrast Iraola’s men have won just one of their opening games.
Had Liverpool hit the ground running this term there might be an outside hope they could cause a major shock and deliver the title. However, they have now effectively given not one, but two clubs, a six-point lead over a 34-game season. With those two sides being the best in the league as well, the chances of Liverpool landing a 21st top-flight title are tiny. At best.
Of course, there is a long way to go. Iraola is an excellent manager, and if his side gets lucky with injuries, they could feasibly go on a streak of runs that would put some pressure on the teams above them. If Erling Haaland was to miss a lot of games through injury, it is not inconceivable that the Reds could finish above City.
Arsenal are a different case though, as their squad depth is unrivalled and they do not rely too heavily on any single player. Even if the Gunners were badly hit by injuries, we still believe they would have too much for Liverpool.
FA Cup the Best Shot?
Liverpool last won the FA Cup in 2022, and that was their eighth success overall. Only Man United and Arsenal have won it more often, and the historic competition certainly looks like the Reds’ most likely path to glory in the 2026/27 campaign.
Most online bookmakers price Iraola’s men at odds of 7/1, making them third favourites behind Arsenal and Man City. Meanwhile, Manchester United and Chelsea are both priced at single-digit odds, reflecting the fact that the FA Cup is perceived as being relatively open.
It is less of a priority than the league or UCL but more important than the EFL Cup. Liverpool could be expected to field a reasonably strong side when the third round takes place at the start of January 2027. If they got a decent draw in the first (third) round and then again after that, they would be through to a point where Iraola would start to take the competition more seriously.
Liverpool’s penalty shootout win over Chelsea in 2022 was the club’s first FA Cup success since 2006. If Iraola could guide the Reds to a ninth FA Cup title, it would certainly be a nice bit of icing on the season and give the club something to build on heading into 2027/28.
EFL Cup Also Gives the Reds a Chance
On the 15th of September, Liverpool beat Spurs 3-1 at Anfield, despite fielding a much-changed starting XI. Lewis Koumas, James McConnell, Rio Ngumoha and Trey Nyoni all began the match, but despite including so many youngsters, Iraola’s side progressed safely enough to the fourth round.
The Reds are 13/2 fourth favourites for the League Cup, although the odds will change once the third round is completed and then again when the draw for the next round is made.
There are three teams above them in the betting right now, and just two in the FA Cup, because the club are deemed more likely to rotate in this competition.
Compared to many of their rivals, the Reds lack depth. As promising as youngsters such as Ngumoha are, Liverpool do not really have the squad to win the EFL Cup with their second string. If they field a weakened XI in the next round, there is every chance that a full-strength opponent Liverpool would normally expect to beat, or a top rival such as Arsenal, Chelsea or Man City that have also made several changes, would beat them.

League title feels like the least likely of the lot given how City started, but cups are a different animal — squad rotation suits us better there. My honest prediction before the season was top two plus one trophy, and I’m sticking with it even after the slow patches. Biggest risk is the usual one: injuries in March turning a double chase into a top-four scrap. Which of the four would you personally sacrifice first if it came to that?