Spurs recently submitted a formal offer worth around £60million for Gakpo, only for Liverpool to reject it outright. According to multiple English sources, Tottenham have no intention of abandoning their pursuit and are preparing a fresh proposal in an attempt to change Liverpool's stance before deadline day.
Tottenham manager Roberto De Zerbi is understood to be a strong advocate for signing Gakpo, and has pushed internally for the club to return with an improved offer.
Liverpool, however, have made their position clear: they are under no obligation to sell and will only entertain a departure for a fee they consider highly attractive. The Merseyside club are also working to bring in a forward of their own — with Paris Saint-Germain's Bradley Barcola among the candidates — before they would even consider letting Gakpo leave.
New Liverpool manager Andoni Iraola offered a ringing endorsement of the Dutchman ahead of Sunday's Premier League opener at Newcastle United.
"Cody is doing really well," Iraola said. "I think from the first day of training he has been very good and understands everything we expect from him in his position.
"You notice it straight away when you talk to him, he understands the game. He is very smart and he was one of our best players in pre-season. He is performing absolutely well."
Gakpo underlined that assessment on the pitch, scoring Liverpool's equaliser in a 2-2 draw at St James' Park after Anthony Elanga had given the hosts an early lead, before Joe Willock restored Newcastle's advantage and Dominik Szoboszlai salvaged a point from the penalty spot deep into stoppage time.
Manchester City have now emerged as a fresh complication for Tottenham, with sources in England indicating City have made their interest known directly to Gakpo, though the Premier League champions have yet to make an official approach to Liverpool.
Within City, Gakpo is not viewed as an automatic starter but rather as a means of adding quality and depth to the squad — a contrast to Tottenham's vision of the forward as a central figure in Roberto De Zerbi's rebuild.
Gakpo signed a five-year contract extension at Anfield only twelve months ago, tying him to the club until 2030, a deal that underlines how far his stock has risen since. Liverpool's stance reflects that investment: rather than being pushed toward an exit, the 27-year-old is being treated as a player the club would ideally prefer to keep, unless an offer arrives that fundamentally changes the financial calculation.
With the transfer window closing on 1 September, the battle for Gakpo's signature could yet develop into one of the defining sagas of English football's final week of business, with Tottenham racing to put together an improved bid before City's interest has the chance to properly take shape.