Both players were linked with Liverpool before joining City this season.
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Gerrard said on TNT Sports: “They should be playing for Liverpool, so that hurts even more.
“We were linked with two of those players and that would have made a big difference to Liverpool.
“But I’ve said it before on record. Two top, top players. And for the price that they got them in as well. One on a free. One was, you know, £60million.
"In today’s market, they’re two bargains. They’re two bargains.
“Quality players, experienced, ready to go into the prime years of their career. International-level players.
"And what they’ve done is they’ve just helped kick City on at the right time.”