After CAS opted to overturn Manchester City's two-year ban from European club football, the chances of Arsenal qualifying for Champions League football have become exceedingly slim.
The Gunners are currently ninth in the Premier League table and now look set to battle it out with Tottenham Hotspur, Sheffield United and Wolves for a place in the Europa League next season.
The Reds, on the other hand, will be looking for a win to keep their hopes of a new Premier League total points record and return to winning ways after Saturday’s draw with Burnley.
And ahead of the game at the Emirates Stadium, here is all the information you need to know.
When is the game?
The game takes place on Wednesday, July 15 with kick off at 8pm.
The match is being played at the Emirates Stadium.
Is it on TV?
Yes, like all Premier League games since the restart, the match will be shown live on TV.
You can watch the full match on Sky Sports, with options to watch with or without added in crowd noise.
Coverage starts at 8pm on Sky Sports Main Event and Sky Sports Premier League, with the game commencing 15 minutes later.
Unfortunately it will not be made available on a free-to-air channel but fans will be able to use the NOWTV website or app to stream the match providing they have a Sports Pass.
Fans will be able to choose whether to watch with accompanying fan sound effects on the Sky Sports Main Event channel or with the natural stadium sounds on Sky Sports Premier League.
The NOWTV app is available on most smart TVs, tablets, smart phones and games consoles Xbox One and PS4.
Team news
Mike Arteta has hinted he may make changes to his side for Wednesday’s clash with Liverpool when he spoke to the press earlier this week.
Mesut Ozil could return to the fold for the Gunners, but Gabriel Martinelli, Bernd Leno, Pablo Mari and Calum Chambers will all miss out on.
While Liverpool will be without experienced pair James Milner and Jordan Henderson for the game.