Liverpool's owners Fenway Sports Group face a familiar dilemma. As the reigning Premier League champions continue to suffer an alarming decline, and fan discontent rises, FSG must decide what to do about head coach Arne Slot.

    

Slot has lost the faith of many supporters, with former Liverpool and England midfielder Danny Murphy telling BBC Sport it is a conundrum he feels will end with the Dutchman's departure within months.

The owners have been here before. It was in 2015 that Brendan Rodgers - without the credit in the bank Slot accumulated with last season's title triumph - suffered the same fate among Liverpool's fanbase as they ended the season with a humiliating 6-1 loss at Stoke City to finish sixth, 25 points behind champions Chelsea.

FSG, led by principal owner John W Henry and chairman Tom Werner, had to decide whether to stick or twist with the manager who almost brought the title back to Anfield in 2014, eventually keeping faith with Rodgers but with a rebuilt backroom staff.

Rodgers was backed with big money to sign players of the calibre of Christian Benteke from Aston Villa for £32.5m and Roberto Firmino from Hoffenheim for £29m, who went on to be a Liverpool great, while recouping £49m from the sale of Raheem Sterling to Manchester City.

The ploy failed as Rodgers was sacked in early October - and replaced by Jurgen Klopp. It was the start of a new era of success. Liverpool won the Champions League in 2019, and a first league title for three decades the following year.

So what will FSG do now? Will they keep faith and bankroll a head coach who was backed with a £450m transfer outlay last summer, or cut their losses to make a fresh start?

Will Alonso's availability make him an option?

There are currently no indications that FSG are planning to part with Slot, but the voices of Liverpool supporters are rising in volume against him. Saturday's 1-1 draw at home to Chelsea was played out in an atmosphere of toxicity rarely heard at Anfield.

Now former Reds midfielder Xabi Alonso is the name on the lips of the Kop.

Alonso is a hugely popular figure with fans following a stellar Anfield playing career, and won the Bundesliga with Bayer Leverkusen as a manager before a short spell in the dysfunction of Real Madrid.

Murphy believes Slot's departure is now purely a case of when rather than if, given the increasing revolt in the stands.

Murphy revealed he was interviewed by Rodgers for a role in that last reshaped coaching team before the manager was sacked, with the job eventually going to former team-mate Gary McAllister.

He told BBC Sport: "Slot has won a title, which Brendan didn't do, so on the surface it would make more sense to stick with him, and I do feel strongly it is unfair to say he only won the title with Klopp's team. That's just not right.

"The problem Slot has got, especially at one of the biggest clubs in the world, is that when the fanbase turns, you are really, really struggling to get them back unless you win every game, then not just win, but win in a style Liverpool fans expect and demand.

"This season you have seen Liverpool being dictated to by the way other teams play at Anfield. Fair enough, it's different away from Anfield, but at home you expect Liverpool to be going after you, not giving you time to breathe. Too often it's not been like that."

It has led to a mutinous mood not seen since Roy Hodgson's six months at Liverpool in 2010-11, then in the latter months with Rodgers in charge, although that was a climate of resignation rather than revolt.

Murphy added: "It's a great point to make the comparison with Rodgers and Slot, because there needs to be someone who's in the wings and available who can take the reins now.

"Is there a suitable candidate who can move them forward? The obvious name out there is Xabi Alonso, who is available. He has got popularity, which is key because it gives you a few months' grace. It also means everybody starts the season in a good place with a lot of energy."