Joe Cole believes Xabi Alonso has made a 'terrible decision' to stay at Bayer Leverkusen and turn down the opportunity to become Liverpool manager.
Alonso was widely expected to replace Jurgen Klopp in the Anfield dugout this summer and was also closely linked to the Bayern Munich job.
However, on Friday, the Spaniard announced his intention to remain at Leverkusen for at least another season, with his team currently on the verge of winning the Bundesliga and still unbeaten in all competitions.
It's a disappointing setback for Liverpool and Bayern, as Alonso is considered one of the best young managers in the world and the obvious candidate to succeed Klopp or Thomas Tuchel.
Given Leverkusen's impressive performance this season, it's understandable why the 42-year-old is hesitant to leave the German side just yet. However, Cole believes the manager has made the wrong decision.
"I think it’s a terrible decision. He is the hottest property in world football, in management right now," the former Chelsea and Liverpool attacking midfielder told TNT Sports.
"A manager’s stock goes up and down so quickly. I think he should have made the move this summer because in a year’s time it could be completely different.
"Keeping this [Leverkusen] team together is going to be tough enough because they’ve got some fantastic players and all the big giants in Europe are going to be looking at them," he added.
Fellow pundit and former Bayern Munich star Owen Hargreaves disagreed however, though admitted the news was probably a bit of a surprise.
"Most managers when they’re stock is high tend to strike but Xabi, relatively young as a manager, wants to stay where he’s comfortable.
"Bayern wanted him, Real [Madrid], Liverpool… so I’m impressed actually and I think he’s made the right call. Stay another year and see what happens in the summer.
"If he wins the Bundesliga and potentially a European trophy, and if he keeps that team together it could be something very special."
With Alonso no longer available, Liverpool are now focusing their efforts on hiring either Brighton’s Roberto De Zerbi and Sporting Lisbon’s Ruben Amorim.