Liverpool manager Jurgen Klopp has signed a new two-year extension to remain at Anfield until the summer of 2026.
Klopp, 54, who had two-years left on his current deal, previously claimed he could step down at the end of his contract.
His assistants Peter Krawietz and Pep Lijnders have also penned new deals to remain on Merseyside.
President of Fenway Sports Group (FSG) Mike Gordon had discussed with Klopp’s agent Marc Kosicke over extending his deal at Anfield, and it has now been delivered.
The German has won five trophies in his seven years at the club, including the Premier League after a 30-year wait and the Champions League in 2019.
"There's something to announce. Like last time, some will like it, some will not like it too much. If you do not like it, stop watching now”, Klopp said after signing.
"I stay for another two years. And not only me! No, all my coaches as well, which is the most important actually.”
Following the announcement, what could this mean for Liverpool?
FSG’s financial package is already kicking in. The extension of the Anfield Road end is well underway and this will increase Anfield’s capacity by a further 6,000 for the start of the new season.
The fact the Liverpool owners have agreed new deals for Klopp and his key backstaff also shows that the German's intended plans for the team and its overhaul must have been agreed.
...for Liverpool’s current squad?
There are four players contracts that end on June 30 this year, and it is likely that stalwart James Milner will be offered a new one-year extension, given his age of 36.
Anfield folk hero Divock Origi, however, is likely to be allowed to seek pastures new, with AC Milan heavily linked with the 27-year-old.
Five key stars who have helped the Reds climb to the top of Europe’s elite all have contracts ending in the summer of 2023.
Klopp’s new commitment could well persuade Mohamed Salah, Sadio Mane, Roberto Firmino and Naby Keita to pen new extensions.
Alex Oxlade-Chamberlain is likely to leave Anfield this summer, as he seeks regular first-team football.
... for the next generation?
Klopp is a past master of developing young talent and turning them into world-class performers.
Harvey Elliott, Leighton Clarkson, Curtis Jones, Kaide Gordon, Rhys Williams and Tyler Morton were all given their debuts by Klopp. They will hope to continue their development under his watchful eye.
Potential new summer recruit Fabio Carvalho from Fulham will also benefit from the news as he will be looking to join the Klopp evolution.
... for transfers going forward?
One of the big reasons the Reds have been so successful during Klopp’s tenure has been an excellent transfer policy.
This is set to continue, despite transfer guru Michael Edwards leaving at the end of the season.
The Reds are likely to draft in several key stars as a top priority as Klopp eyes fresh blood for his squad.
England international and long-term target Jude Bellingham of Borussia Dortmund could well come into the midfield now he knows the German is staying on Merseyside.
Another could be Aurelien Tchouameni of Monaco, a club Liverpool have bought from previously when signing Brazilian midfielder Fabinho.
Benfica striker Darwin Nunez, who could cost in the region of £109 million, may also be talked about.
Uruguay international Nunez, 22, has registered 33 goals and four assists in 39 games in all competitions, including six in 10 Champions League appearances this season. He most recently netted in both quarter-final legs against Liverpool.
Should Egypt star Salah decide to leave, Klopp could well make the move for Paris Saint-Germain and France international Kylian Mbappe.
The 23-year-old’s contract expires in June, and the French champions are set to lose him on a free transfer.
Liverpool would likely need to reduce their wage bill in being able to afford Mbappe, and would only be able to do so, if Salah was to leave.
There looks to be yet more exciting times ahead at Anfield.