Steven Gerrard to Newcastle: what would it mean for Liverpool and why it matters

The majority of the footballing world is spellbound by the events unfolding in the north east.

Newcastle United's takeover has finally been complete, with PCP Consortium replacing the much-maligned Mike Ashley.

A new dawn begins at St James' Park - and it understandably has every Premier League club looking over their shoulders.

Saudi Arabia’s Public Investment Fund (PIF) reportedly financed 80% of the £305 million paid to purchase the club.

Why Kopites are interested

PIF are said to brag assets of £320 billion - which makes them the wealthiest owners in world football.

It means they have funds that Manchester City, Manchester United and Chelsea can't match.

Liverpool, too, will be dwarfed in terms of cash. But they are already dwarfed by the aforementioned three anyway so Newcastle’s investment in terms of cash doesn’t matter all that much.

Yes, there's been large transfer fees paid but the Reds are run on a self-sustainable basis.

Astute recruitment and a world-class manager are why Liverpool have returned to the European elite.

Kopites will be carefully watching how things pan out at Newcastle - but for a different reason.

The manager situation

Jurgen Klopp deserves the utmost credit for the tremendous work he's carried out at Anfield.

Arriving six years ago today, he's transformed Liverpool, restoring them to where they belong.

A sixth Champions League and a maiden Premier League title have been added to the trophy cabinet - and there's every chance of more silverware before he leaves.

But Klopp won't be on Merseyside forever and he's hinted on several occasions he'll depart when his contract expires in 2024.

Potential replacements will already have been earmarked.

It's long been thought that Klopp's heir apparent will be an Anfield legend who's destined to return to the club at some point. Steven Gerrard.

The 2005 Champions League-winning captain has done a sterling job as manager of Rangers. He guided the Gers to the Scottish Premiership last season and stopped bitter-rivals Celtic claim a 10th successive crown in the process.

His time at Ibrox has almost felt like a dress rehersal for when he returns to his boyhood club.

So why are Newcastle relevant? Well, because Gerrard is being heavily linked to the St James' Park job, with the already under-fire Steve Bruce set for the axe.

Reports north of the border suggest Gerrard is the Magpies’ first choice to succeed Bruce and is among the favourites with the bookies.

If the former England skipper does take the helm, what might it mean for Liverpool down the line?

Experience

One thing that becoming chief of the Toon would provide Gerrard is Premier League experience.

The 41-year-old might have racked up 504 top-flight games in his playing days, but management is a different beast.

There's little margin for error when in the driving seat. It's a cut-throat business. One too many bad decisions, of which you don’t get many to make, and you’re out the door.

Gerrard might have taken charge of 185 Rangers matches and boasts a 64.86% win record. Yet the English top flight is in a whole other stratosphere to the Scottish top flight.

Not many managers without the nous that is required survive in the Premier League for long.

Frank Lampard is a prime example. After one season in charge of Championship Derby, he was handed a Chelsea return in 2019, having etched himself into club folklore during his playing days.

However, Lampard would last just 18 months before he was sacked.

Newcastle would provide Gerrard with the platform to earn his Premier League spurs.

A couple of years steering the Magpies ship, facing pressure from the vehement Toon Army, could augur well before an Anfield homecoming.

Potential predicament

However, there are no guarantees that Gerrard would want to leave Newcastle when Klopp departs Liverpool.

Come 2024, Gerrard could well be creating history at St James' Park.

It's expected that the Magpies' new owners will hand their next manager a sizeable war chest - partly to ensure Premier League survival this season and then to catapult them up the table.

Let's say Gerrard brings in the calibre of players that takes Newcastle from relegation-battling regulars to European contenders.

Imagine the Geordies not only surged into the Champions League places but were challenging for the title and won their first major trophy since 1955.

Gerrard would be granted cult status, along with the likes of Sir Bobby Robson and Kevin Keegan.

If the Magpies were in such a position, would Gerrard be ready to leave?

Creating a legacy at a club other than Liverpool might outweigh a return if his ex-employers were to come calling.

The worst case

On the flip side, it's not a foregone conclusion that Gerrard would prove to be a hit at Newcastle.

There have been plenty of managers handed a wheelbarrow of money but been profligate with it and are ousted.

Should Gerrard fail as St James' Park supremo then Liverpool would be in a quandary.

Certainly, the fairytale wouldn't have the same ring to it if he arrived after having the axe wielded on him.

There'd also be rightful concerns about whether he'd have the capabilities of succeeding Klopp.

But Gerrard understands every fibre of Liverpool. He gets what is required to be a success and the demands of Kopites which need satisfying.

He could argue that he’d learnt from his mistakes in the north east and would take heed from past errors.

The Reds could then reap the rewards.

What we can say for definite is supporters will continue to watch on avidly to see if Gerrard does land the Newcastle job.