Jamie Carragher has urged Liverpool's owners to go out and get Jurgen Klopp after sacking manager Brendan Rodgers.
Former Borussia Dortmund boss Klopp has been waiting for the right job to come along since leaving the German giants at the end of last season.
The Anfield vacancy may be tempting, and former Reds captain Carragher believes the 48-year-old would be the perfect fit.
Carlo Ancelotti, the former AC Milan, Chelsea and Real Madrid manager, also has the profile that Liverpool's US-based owners Fenway Sports Group are expected to find appealing.
Carragher said: "I think with either of those coming to Liverpool, the Liverpool supporters would be ecstatic: Carlo Ancelotti a Champions League winner three times, and we know what Klopp did at Borussia Dortmund.
"If it was me I would go for Klopp ahead of Ancelotti. I think he's got more to prove. Ancelotti is a great manager of course but he's gone to clubs where you would expect to win trophies.
"It's a difficult job now at Liverpool getting them back into the top four. Forget talking about the title. And I think it needs someone with that energy and drive to get Liverpool back to where it wants to be and I think Jurgen Klopp's that man.
"The one worry for Liverpool's owners is: would Ancelotti or Klopp come now, in the circumstances that are at the club now, where you have the politics inside the club."
An incoming manager may want the final say on transfer policy, whereas it has been an established Liverpool pattern during Rodgers' reign to buy up young talent and develop players.
Distinctly mixed success on that front has followed, with Liverpool rarely going in for the biggest names.
Carragher said the club's owners must get the next appointment right, and suggested Rodgers should have gone sooner.
Addressing the challenge facing the owners, Carragher said on Sky Sports: "They've made a lot of decisions since they've come that haven't worked. At the moment the owners' track record in making changes for Liverpool Football Club over the last two or three years has not been good enough. It's miles off.
"I'd have preferred them to do it (sack Rodgers) in the summer. He's been there three and a bit years, they haven't won a trophy and they've played Champions League football once, that's not good enough for Liverpool.
"Liverpool have won one Carling Cup in 10 years.
"Liverpool are becoming Tottenham: they think they're a big club but the real big clubs are not too worried about them, who they buy and what they're going to do. That's the situation it's become for Liverpool, even when I was there towards the end. I'm not just blaming Brendan Rodgers and this set of players.
"What are these owners of the club going to do to get Liverpool back to where they need to be, which is consistently in CL and challenging for trophies?"
Arsene Wenger expects to see Rodgers back in management before long.
Arsenal boss Wenger said : "I am always sad when that happens because I think he is a quality manager.
"I think he was unlucky not to win the Premiership. He was the closest certainly to win the Premiership of all the managers who have been working for the club. But that's the way it goes now and I wish him good luck. I am sure he will find a job again."
Further support for Rodgers came from his former club Swansea, where manager Garry Monk was stunned by Liverpool's decision.
"I can't believe that. A very, very harsh decision. I don't think he deserved that at all," said Monk, who played under Rodgers at the south Wales club.
"I can't see who else is going to do a better job for Liverpool at this moment in time so I am sad to hear that."
Graeme Souness, who captained and managed Liverpool, said the club had fallen behind their supposed rivals, notably in the transfer market.
He said: "The teams that buy the finished article are Man Utd, Chelsea and Man City, and what do they have in common? They win the Premier League."