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With the England international presumed to be bound for Real Madrid, it remains to be seen how his boyhood club will fill the void.
Departing as a two-time Premier League victor after the Reds secured the title last month, the 26-year-old has been an important component in this triumph.
Now, Premier League legend Shearer has offered up a potential alternative replacement for Alexander-Arnold - if the Reds do go into the transfer market to mitigate the loss.
Speaking to Betfair, the Newcastle United icon said: "Although Denzel Dumfries plays in a completely different system with Inter Milan, there’s no doubt that when I’ve seen him in that system, he’s shone.
"His energy has been incredible and the most impressive thing for me is how good he’s been in forward positions," he continued, as he assessed the Dutchman's merits, following his strong performances en route to the Champions League final this term.
He opined: "Defensively is a different question, but certainly offensively he’s a very, very good player
Arne Slot will know him better than anyone being a fellow Dutchman.
"Signing for Liverpool would be an option, but he’s got the chance of winning the Champions League and he’s also got a chance of winning the league so he’s obviously in a very healthy position.”
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