Garth Crooks thinks that missing out on the Champions League could have big implications for Arsenal, while for Liverpool it is a massive positive.
Liverpool saw off Middlesbrough 3-0 at Anfield on Sunday to secure a top four finish, meaning that Arsenal's 3-1 win at home over Everton could not help the Gunners avoid Europa League football next term.
Arsenal are battling to keep Mesut Ozil and Alexis Sanchez, while Liverpool want to keep hold of Philippe Coutinho.
Crooks thinks as a result of the finishing positions of each side, Arsenal may fail, while Liverpool are set to succeed.
The ex-Tottenham forward said on the BBC's Final Score programme: "This is a significant moment because for [Liverpool boss Jurgen] Klopp it means he can keep Coutinho.
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"For Arsenal, it means they may well lose Sanchez and Ozil.
"These are big moments."
Arsenal could still end the season with a trophy as they are due to take on Chelsea in the FA Cup final next weekend.
Whether winning the cup would be enough to convince Ozil and Sanchez to stay and miss out on a season in the Champions League though remains to be seen.
