Chelsea are out of Carabao Cup competition in round four, after losing to Liverpool 6–5 on penalties following a 1–1 draw at regular time at Anfield on Wednesday night.

The hosts looked slightly better from the start, but it was a vastly uneventful opening half, with both teams struggling to get much of anything going offensively.

That all changed in the final 10 minutes of the first half, thanks to some woeful defensive mistakes. Ryan Gravenberch brought down Moisés Caicedo inside the penalty area with a clumsy, unnecessary challenge. Morgan Rogers then converted from the spot to give Chelsea the lead 40 minutes in with the very first shot on goal from either team.

Chelsea’s joy was short-lived, though, as Wesley Fofana inexplicably put his hand up defending a corner, resulting in an egregious handball. Cody Gakpo capitalized on Fofana’s gift and equalized from the spot to send the game level into the break.

The second half was much more open, and both teams had clear chances that required the pair of goalkeepers to make crucial saves. Still, neither side could find a winner, and the game was decided in a penalty shootout.

The shootout went to sudden death after Chelsea’s Valentín Barco and Liverpool’s Kostas Tsimikas missed inside the opening five penalties taken. Chelsea had a chance to complete the upset, but Emmanuel Emegha missed what would’ve been the winning penalty—and it proved costly.

Needing to score to extend the shootout, Fofana sent his penalty into orbit to tie the bow on his nightmare of a game.

For the third time since 2019, Chelsea’s Carabao Cup dreams ended in a penalty shootout against Liverpool. Now, Xabi Alonso’s men have only the Premier League and the FA Cup to fight for in what remains of 2026–27.

One Thing We Can’t Ignore

It’s been only a year since an 18-year-old Estêvão scored a match-winner against Liverpool and then proceeded to steal the show with a dazzling performance against Barcelona in the Champions League. The Brazilian appeared destined to continue growing in importance for Chelsea in the coming months. That couldn’t be further from what actually happened.

Four days after Alonso picked fellow teenager Geovany Quenda ahead of him to replace João Pedro in the XI against Tottenham, Estévão was again omitted from the lineup against Liverpool—the first time he didn’t feature from the start in the Carabao Cup this season. Although first-choice attackers Pedro and Cole Palmer were unavailable, the Brazilian didn’t even feature from the bench.

Estévão hasn’t started for Chelsea since Sept. 9, and has played just 31 minutes in four appearances for the Blues since. In total, the Brazilian attacker has played 172 minutes for the Blues through 11 games across all competitions this term.

Last summer, Estévão was considered a superstar in the making and a potential future Ballon d’Or winner. He’s already shown he has the raw quality to blossom into a star, but he currently finds himself way down Alonso’s attacking pecking order.

Only Alonso knows the reasons why Estévão is barely getting opportunities, but it’s undeniable that the development of one of the most exciting young prospects in the sport is getting compromised. Alonso’s treatment of Estévão is starting to look eerily similar to how Carlo Ancelotti treated Endrick at both Real Madrid and Brazil.

If the situation doesn’t improve, then the noise surrounding his potential Chelsea exit in coming transfer windows—presumably on loan—will only intensify.

Chelsea Player Ratings vs. Liverpool (4-3-3)

GK: Mike Penders—7.8: Nervous on the ball, often lobbing the ball high up the pitch instead of playing an easy pass, leading to frustration from teammates. Still, he produced a couple of brilliant saves in the second half.

RB: Josh Acheampong—7.5: Had a tasty battle down the flank with Rio Ngumoha and more held his own. He also occasionally ventured forward and caught Liverpool by surprise with a couple of nice runs to the byline. Stunning block late to deny Bradley Barcola.

CB: Maxence Lacroix—6.6: Was vigilant and diligent in his defensive duties until he was forced to exit the pitch injured on the brink of half time.

CB: Wesley Fofana—7.6: Cost his team by gifting away a penalty immediately after taking the lead and then missed the decisive penalty in the shootout. A nightmare evening for the Frenchman.

LB: Malo Gusto—7.0: Outside of a nice action that led to Caicedo’s penalty, Gusto was not only erratic but also at times careless in possession.

DM: Moisés Caicedo—7.8: Looks back to his dominant best. Enjoyed himself against an inexperienced midfield, overwhelming rivals in the middle of the park and often appearing high up the pitch trying to create.

DM: Roméo Lavia—7.2: Made some critical recoveries in dangerous territory and kept things moving in possession, resisting Liverpool’s press.

AM: Jordan Henderson—7.6: Looked full of energy returning to Anfield to face the club he represented 492 times. He relentlessly pressed Liverpool defenders and started the action that ended in Chelsea’s penalty with a flawless switch of play for Gusto. Strong showing from the veteran.

RW: Pedro Neto—7.2: The converted wingback operated as a touchline winger on Wednesday. At times menacing, at times frustrating—a microcosm of his Chelsea career.

ST: Danny Welbeck—6.3: Never got a chance to try his luck on goal and was often a lone warrior against Liverpool’s center backs. Still, his pressing efforts deserve a shoutout.

LW: Morgan Rogers—7.9: Struggled the entire game up front, but he calmly sent the goalkeeper the other way with a perfectly taken penalty. Improved in the second half but was still erratic in front of goal.

SUB: Levi Colwil (45’ for Lacroix)—6.4: Wasn’t overly tested but made a brilliant block to deny Florian Wirtz in the second half.

SUB: Marco Palestra (68’ for Gusto)—6.2: Couldn’t capitalize on Chelsea’s best chance of the night soon into his cameo. Did fine defensively.

SUB: Valentín Barco (68’ for Caicedo)—6.4: Great cameo from the Argentine, who contributed all over the pitch but especially defensively, cleaning up actions that could’ve been threatening. Good Caicedo impression. His missed penalty proved costly.

SUB: Emanuel Emegha (68‘ for Welbeck)—6.0: Completed just two passes and then missed what would’ve been the winning penalty in his Chelsea debut.

Subs not used: Teddy Sharman-Lowe (GK), Olutayo Subuloye, Mahdi Nicoll-Jazuli, Estêvão, Geovany Quenda.

What the Ratings Tell Us

• Maxence Lacroix looked to be in considerable pain as he limped off the pitch with an apparent injury. It’s a significant blow as fitness issues are starting to significantly compromise Alonso’s side. The Spaniard has predominantly deployed a three center back system since he landed at Stamford Bridge, but Lacroix’s injury could force him to use a more traditional 4-3-3 system—like the one he deployed at Anfield on Wednesday.
• Whether it’s at center back or right back, 20-year-old Josh Acheampong continues to showcase incredible potential. The Cobham graduate didn’t put a foot wrong all game defending the dangerous Ngumoha. He still must work on his consistency, but Chelsea might have a gem in the towering defender.
• Much has been said about Chelsea’s lack of midfield depth this season, but Alonso must be delighted to have Moisés Caicedo back performing at his world-class level. Roméo Lavia and Jordan Henderson were also solid, and Vlentín Barco impressed from the bench. Alonso’s midfield suddenly has valuable options at its disposal.

The Numbers That Explain Chelsea’s Narrow Defeat

• It was an incredibly tight affair at Anfield on Wednesday, with both teams registering four attempts on goal, and Chelsea narrowly edging Liverpool with 11 total shots to 10.
• Both teams missed all their big chances outside of the pair of penalties. Still, Liverpool could’ve won the game earlier had they not missed three big chances in the second half compared to Chelsea’s one.
• Chelsea have now lost all five of their penalty shootouts against Liverpool.