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The Brazilian playmaker left in January 2018 for Barcelona in a deal worth £142million, and that financial boost funded a series of transformative deals.
Virgil van Dijk, Alisson Becker, and Fabinho arrived shortly after, forming the robust defensive core of Klopp's setup and enabling attacking stars like Mo Salah, Sadio Mane, Trent Alexander-Arnold, and Scotland international Andy Robertson to play with fearless intensity and attacking freedom.
That period marked a watershed moment.
Liverpool lifted the Champions League trophy just a year after Coutinho left, and followed it up by ending their 30-year title drought the next season.
Speaking in 2020, Rodgers didn't hesitate to highlight how important that transfer had been.
"The money they gained from Philippe has enabled them to buy Van Dijk, Alisson and Fabinho - three players who have transformed the team," said the Irishman.
The Brazilian quickly became the side's creative spark and was instrumental in their surprise title challenge in 2013/14.
Article continues belowBrendan Rodgers signed Philippe Coutinho for Liverpool for just £8.5million(Image: John Powell/Liverpool FC via Getty Images)
He continued to be a central figure under Klopp, who succeeded Rodgers midway through the 2015/16 season.
He struggled to find a consistent role in Barcelona's squad, making just 106 appearances across four-and-a-half years, far removed from the game-changer he once was.
Liverpool turned its fortunes around by signing Virgil van Dijk, Alisson and Fabinho in 2018(Image: Photo by Andrew Powell/Liverpool FC via Getty Images)
A loan spell at Bayern Munich followed, though he was mostly a squad player.
Alisson has solidified his place as one of the top keepers in the league, and Fabinho was celebrated as one of the most consistent and effective holding midfielders in recent memory.
Though Fabinho has since moved on, Slot's title win this season highlights the long-lasting influence of Coutinho's departure - a decision that, in hindsight, turned out to be one of the smartest moves in Liverpool's recent history.