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The 26-year-old defender looks poised to join Real Madrid when his contract at Anfield expires this summer, bringing an extraordinary 21-year chapter with the club to a close.
Should he move to the Bernabeu, Alexander-Arnold would join up with the likes of Kylian Mbappe, Vinicius Jr, and fellow England international Jude Bellingham.
Yet history suggests that not every Liverpool star flourishes after making a high-profile switch to Spain - with Philippe Coutinho's ill-fated transfer to Barcelona a prime example.
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Back in 2018, the Brazilian playmaker left Merseyside for the Camp Nou in a staggering £142million deal.
However, he struggled to cope with the weight of expectations, failing to replicate the brilliance he displayed week in and week out for Liverpool.
Before the move, then-manager Klopp warned him that he'd be "just another player" at Barcelona - a prediction that turned out to be painfully accurate.
"If you go to Barcelona, to Bayern Munich, to Real Madrid, you will be just another player.
Yet his revival was short-lived, and he soon found himself out of favour once again.
Coutinho's decision to swap Liverpool for Barcelona in 2018 backfired(Image: Getty Images)
Now 32, Coutinho is a forgotten figure in elite football, currently on loan at Brazilian outfit Vasco da Gama - a stark contrast to the record-breaking transfer that once made him the third-most expensive player in history.
While Alexander-Arnold's situation is significantly different from the one Coutinho faced seven years ago, Klopp's words remain just as pertinent.
As a homegrown talent with an undeniable connection to Liverpool, Alexander-Arnold has the chance to cement his place in club history.
Such a connection isn't easily replicated elsewhere, regardless of how successful the transition may be.
Alexander-Arnold looks set to join Real Madrid this summer(Image: CameraSport via Getty Images)Article continues below
The nature of his departure also raises questions.