The nail in the coffin of an incredibly poor Liverpool season.
Jude Bellingham will not be signed, because the club realise they need to spend the required funds on a major rebuild instead. The problem is, part of the reason Liverpool need a rebuild is because they have stagnated in the transfer market for years in the expectation of an eventual move for the Borussia Dortmund superstar.
But, by not improving an ageing, injured midfield - for which only Thiago has been signed permanently in five years - the Reds have dropped the baton.
An entirely new midfield is needed given the performances of Jordan Henderson and Fabinho this term. Bellingham was supposed to be the last piece, but the Reds need an entirely new jigsaw.
At least there is recognition of the scale of improvements required. Declan Rice would be a great start. He would be a fantastic long-term replacement for Henderson, while either of the Brighton duo Moises Caicedo or Alexis Mac Allister would strengthen us.
Liverpool need battlers, though. Energetic fighters who can track runners and provide a platform from which the attack can run riot and the full-backs can get forward. Manuel Ugarte from Sporting Lisbon and Manu Kone from Borussia Monchengladbach are interesting options.
The reality is, we need at least three to soothe the disappointment of Bellingham's departure.
Now all the Reds can hope for is that he does not join Manchester United or Manchester City.