Only six months ago, Liverpool chairman Tom Werner sat in the Anfield directors’ box watching his club lift the Premier League trophy. The atmosphere was euphoric, the ownership triumphant, the future seemingly secure. But on his return this weekend, Werner was met with a dramatically different scene—one defined by frustration, boos, and the growing possibility that manager Arne Slot’s job may now be hanging in the balance.

The Dutchman, who enjoyed a sensational first season by storming to the Premier League title, is now facing a catastrophic sophomore slump. Liverpool’s 3–0 defeat to Nottingham Forest marked their sixth Premier League loss in seven matches and their eighth defeat across 11 fixtures in all competitions. For a reigning champion, the crisis is unprecedented—and for Fenway Sports Group, increasingly impossible to ignore.

Forest, revived under Sean Dyche, dominated Liverpool with goals from Murillo, Nicola Savona, and Morgan Gibbs-White. The result left a once-dominant Liverpool side stranded in the bottom half of the table, plagued by defensive lapses, a lack of resilience, and players visibly short of belief.

Supporters leaving early told the story. Those who stayed made their feelings clear with loud boos at full time. The atmosphere turned toxic, and even Liverpool captain Virgil van Dijk did not hold back afterward, criticizing the squad’s mentality while highlighting recurring problems defending set pieces—issues that have haunted the team all season.

But van Dijk’s comments raised eyebrows. While he spoke extensively about “we” and the need to “look in the mirror,” some noted he made no mention of his own struggles as captain in a season where his form has dipped dramatically.

Arne Slot attempted to shield his players, publicly accepting responsibility for the disastrous run. He admitted Liverpool’s performances were “far from good enough” and insisted he is responsible for both victories and defeats.

However, his comments were received as hollow by many supporters. Liverpool did not merely lose—they folded, showing none of the energy, intensity, or tactical clarity that defined Slot’s previous success.

What concerned fans and pundits most was that Slot offered no clear solution. With PSV Eindhoven arriving at Anfield for a crucial Champions League match this week, clarity is something Liverpool desperately need.

Werner and majority owner John W. Henry now face a dilemma. Liverpool invested nearly £426 million in summer signings, giving Slot an enormous budget to reshape the squad after inheriting Jürgen Klopp’s core. But the return on investment has been almost non-existent.

Florian Wirtz, signed for £100 million, has struggled and is now injured. Alexander Isak, the £130 million marquee striker, contributed just 15 touches before being substituted. Meanwhile, Ibrahima Konaté—linked heavily with Real Madrid—has become a defensive liability.

With performances declining, morale collapsing, and no visible progress on the pitch, FSG must now weigh loyalty against the ruthless precedent of Premier League history. José Mourinho and Claudio Ranieri were both sacked within a year of winning the title. Carlo Ancelotti, Roberto Mancini, and Antonio Conte all met similar fates shortly after silverware.

Slot, once hailed as Liverpool’s next long-term visionary, now finds himself inching toward that unwanted list.

Betting markets have already opened on potential replacements. The early favorite? Jürgen Klopp—now head of global football at Red Bull—who remains adored at Anfield and has hinted he might one day return. Crystal Palace manager Oliver Glasner is listed next, with Bournemouth’s Andoni Iraola also among the top contenders.

The speculation only intensifies pressure on Slot, who many pundits now believe may not be able to salvage the situation.

Former Everton defender Martin Keown didn’t mince words, saying: “The wheels are coming off now for Arne Slot.” Ashley Williams echoed the sentiment, admitting he doubts Slot can “resolve this situation.”

But former Liverpool midfielder Jamie Redknapp urged patience, suggesting the collapse many expected last season may have simply arrived a year late. Still, even he acknowledged that the current spiral cannot continue.

Beyond the tactical issues and individual errors, Liverpool’s biggest problem appears to be mentality. Too often, the team collapses after conceding first. Leadership is lacking. Structure is fractured. And performances from core players—including Van Dijk, Salah, and Konaté—have dipped sharply.

Slot’s challenge now is monumental: restore belief, repair the defense, motivate stars, and stabilize results—all while under the microscope of one of the most demanding ownership groups in Europe.

If results don’t immediately improve, FSG may feel forced to act—just as Forest owner Evangelos Marinakis did when he sacked Ange Postecoglou after eight games and replaced him with Dyche, a move that now looks inspired.

Slot still has time to turn things around. But time is no longer plentiful. And if Liverpool fail again this week, the club may soon face a decision few imagined would come this quickly: whether to abandon the Slot project altogether.