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Almost out of nowhere came the exciting news that Liverpool had tabled a $139m (£111m) bid for Caicedo, seemingly deeply out of kilter with the typical FSG model.
The same summer had seen Liverpool shy away from Jude Bellingham, after all, conscious of using up all its budget at once.
But there was a lingering sense that Liverpool had failed to fill the Fabinho void.
Against all expectations, Wataru Endo has genuinely held his own as the Caicedo alternative for Liverpool.
But that has been important in and of itself, and Liverpool will be more than satisfied that it has comfortably got its money's worth from the signing — a feeling that will only be intensified if the season ends in silverware.
In fact, over the last year, FBref lists Endo as the single most similar player to Caicedo in Europe's top five leagues.
But in many ways, the 31-year-old has already fulfilled his duty, acting as a bridge to accommodate the emergence of the new-look Liverpool midfield.
Because what makes the Caicedo affair look particularly hilarious in hindsight is the price for which Liverpool secured Mac Allister in the same summer
But while he fights for fourth, Liverpool is gunning for the title, and the Reds probably wouldn't swap any of the midfielders they signed that summer in exchange for Caicedo