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As Liverpool and Chelsea begin preparations for the 2026–27 campaign, both clubs will have had their eyes firmly set on the Carabao Cup.
Neither side will realistically view themselves as genuine Premier League title challengers—not with Arsenal's clinical form and Manchester City's dominance setting the standard—yet both clubs still believe they are capable of claiming a piece of silverware in the unpredictable world of cup football.
Though the season is barely two months underway, it's fair to say the Carabao Cup and FA Cup represent the primary source of optimism for Liverpool and Chelsea. However, one club's run in the former is set to come to a harsh end on Wednesday when the two sides collide in the Carabao Cup fourth round at Anfield.
With Arsenal now eliminated following their shocking loss to League Two side Fleetwood Town on Tuesday, the stakes have risen even higher for both Liverpool and Chelsea as they look to move one step closer to trophy glory this season.
Path to Carabao Cup Glory Has Opened Up Already
Much of the Carabao Cup fourth round is yet to be played, but every remaining side in the draw will now be feeling a real sense of possibility.
Aside from Newcastle United's victory in 2025, the Carabao Cup has been claimed by one of England's "Big Six" every year since 2013. Since Leicester City's win in 2000, only five other clubs outside of Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham Hotspur have lifted the trophy.
Even at this early point in the tournament, three of those clubs have already been knocked out. Both Man Utd and Tottenham exited in the third round, and Arsenal have now joined them on the sidelines.
A fourth is guaranteed to fall on Wednesday when Liverpool welcome Chelsea, meaning the quarterfinals and beyond will feature no more than two Big Six clubs.
This represents a significant opportunity for either Liverpool or Chelsea, who can take comfort in knowing they should, at least on paper, rank among the strongest teams remaining. Man City, currently top of the Premier League, face third-placed Brighton & Hove Albion in their own fourth-round tie on Wednesday, removing yet another of England's top contenders from the equation.
Trophy opportunities rarely come gift-wrapped, but the 2026–27 Carabao Cup looks like a genuinely wide-open contest. Man City may still be the frontrunners, but the unpredictable nature of cup football means their pursuit of a 10th title in this competition is far from a foregone conclusion.
Andoni Iraola Senses 'Opportunity' Available to Liverpool, Chelsea
Of the four trophies Liverpool could potentially win this season, it's no secret that the Carabao Cup is considered the least prestigious alongside the FA Cup, Premier League, and Champions League.
Many clubs have historically treated this competition as a secondary concern, but Liverpool boss Andoni Iraola clearly recognizes that his best shot at winning a trophy in his first season at Anfield may have just landed in his lap.
"I think every competition is an opportunity, especially when you are the coach of Liverpool," Iraola acknowledged. "You have to take it like this.
"I would love to win [against Chelsea] and have the chance to get further in the competition. But I know that we have to play very well, we have to beat a very good team. It's also a team that doesn't play in Europe, so for sure for them this competition is also very important. So, it's not going to be easy."