Rarely have two sides pushed each other as hard and as consistently as the Reds and the Blues have over the past few years, and oftentimes the difference between the two has proven to be marginal.
In that sort of environment, every small advantage can end up being decisive, and that’s why there will be more than a few anxious glances from Anfield at the news that City have all but wrapped up an agreement to sign Borussia Dortmund striker Erling Haaland.
The Norwegian is expected to arrive in Manchester this summer, assuming he agrees personal terms, and brings with him one of the most fearsome goal-scoring records in world football.
For a City side who have played without a recognised centre-forward for much of this campaign, the 21-year-old could prove to be something of a missing piece in their continued hunt for Champions League glory.
But for Liverpool, the question is now, how do they respond?
Will Jurgen Klopp be happy to head into next season with the players he already has at his disposal, or will he and the board decide that an equally eye-catching summer swoop is in order to level the playing field?
We’ve taken a look at nine potential signings Liverpool could make to try and counteract Haaland’s arrival in the Premier League...
1. Kylian Mbappe
Perhaps one for further down the line, especially given the increased likelihood of Mbappe signing a new deal with PSG, but Liverpool have been linked with the Frenchman before, and there are few - if any - acquisitions who would cause as much of a stir.
2. Serge Gnabry
Gnabry’s contract situation with Bayern Munich is still a bit up in the air, and if there were an opportunity to snap up the impressive German, there’s no doubting that he would be a real asset for the Reds. Versatile and lethal, he’s not the same player who struggled to make an impact at Arsenal earlier in his career.
3. Declan Rice
With the embarrassment of riches at their disposal, there will be those who argue that Liverpool don’t actually need to be bringing in much attacking talent at all this summer. Perhaps then, central midfield could be the spot Jurgen Klopp looks to bolster. He could do far, far worse than West Ham talisman Declan Rice, who would improve just about any squad on the planet.
4. Jude Bellingham
Or if not Rice, why not his England teammate, Jude Bellingham? For a lot of Liverpool fans, this is the deal they really want to see happen this summer, and could be the most likely big money swoop the Reds make too. Unbelievably precocious for his age, Bellingham has the potential to be one of the finest players in world football.