The fallout from Sunday's painful 3-2 defeat to Manchester United continues to reverberate around Anfield, with familiar questions about Arne Slot's future reaching fever pitch once again.

That loss at Old Trafford marked Liverpool's 11th league defeat of what's been a thoroughly disappointing campaign. Add in the other competitions and we're looking at 18 defeats across all fronts for a side that lifted the Premier League trophy just months ago.

It's been that kind of season. One setback after another for a club that simply doesn't do mediocrity. Or at least, that's what John Henry wants us to believe.

The FSG owner has broken his silence in a rare interview with Sports Business Journal, offering insight into his thinking just as pressure mounts from sections of the fanbase for Slot to be shown the door. His timing feels deliberate.

"Fans get frustrated," Henry said, addressing recent dismissals at FSG's other major sporting asset, the Boston Red Sox. "The Sox looked terrible for (their) first 25 games. I remember a plane flying overhead when we (Liverpool) were beating Manchester United 7-0 (in 2023) that read 'FSG OUT! It doesn't mean you ignore them, it means you work harder – you don't settle for mediocrity. You have to win."

Those words carry weight, especially given FSG's recent ruthless streak in Boston. They sacked Red Sox manager Alex Cora and several backroom staff earlier this season when results weren't up to scratch. The parallels with Liverpool's current situation aren't lost on anyone.

Yet despite Henry's hardline stance on standards and FSG's track record of making changes when things go south, all indications suggest Slot will survive this latest storm. The Dutchman remains under contract until 2027, and reports suggest decision-makers at Anfield are determined to back their man.

That resolve is being tested though. Ajax have reportedly expressed interest in Slot as they hunt for a permanent successor to Fred Grim, who departed in February. It's exactly the kind of speculation that tends to gather momentum when a manager's position looks shaky.

The split in opinion around Slot's future tells its own story. Former Liverpool midfielder Didi Hamann believes the 47-year-old deserves more time, saying: "I've heard that Arne Slot will be there next season. I think there's a case to be made that maybe a change of manager should happen or should have happened... He won the league last season of course so I think it's a decision I can live with, and I think most fans can live with, if they have a decent finish to the season."

But Gary Lineker sees things differently. The former England striker floated the possibility of Xabi Alonso arriving this summer, questioning whether Slot would survive despite Liverpool still being in Champions League positions. "Would Slot be there next season? Eleven defeats in the Premier League, still in the Champions League positions," Lineker said on The Rest is Football podcast. "I wouldn't be surprised if Xabi Alonso was there next season."

Alonso's name has hung over this conversation since Jurgen Klopp announced his departure back in January 2024. The Spaniard left Bayer Leverkusen for Real Madrid last summer, replacing Carlo Ancelotti, but was relieved of his duties by Los Blancos earlier this year. His availability adds another layer of complexity to Liverpool's decision-making.

Henry's comments about not settling for mediocrity feel particularly pointed given the current malaise. FSG took over Liverpool in 2010 when the club was in crisis and have overseen the transformation into twice Premier League champions. They've shown they know how to make tough decisions when required.

The question now is whether they view this season as an aberration or a sign that change is needed. With Liverpool still in contention for a top-five finish, there's an argument for continuity. But 18 defeats across all competitions tells a different story entirely.

Slot's immediate future may depend on how these final weeks of the season unfold, but the broader conversation about Liverpool's direction under FSG feels far from over.