The Anfield hierarchy have decided that the former Swansea boss is the man to get the club back on track and, Al Hain-Cole examines what to expect in his first season on Merseyside
Significantly, this is the first time the Reds' American owners have had complete control to appoint their own man at the helm, after first inheriting an underperforming Roy Hodgson and then having Dalglish fall into their laps by popular demand from the fans.
In selecting Rodgers, FSG have instilled their faith in a young, ambitious manager who they hope will steer them to the seat at the top table of European football that the club vacated in recent years.
Although they have stressed that it is a long-term project, Liverpool must improve fast in order to avoid slipping even further adrift of the top four and Champions League football, having finished 17 points off Tottenham last year.
Clearly Rodgers has a lot of ground to make up, and this is reflected in the 3/1 (4.00) odds offered by Paddy Power on the Ulsterman taking the club back into the Champions League group stages at the first time of asking.
As even 'King Kenny' found out, winning a trophy is not always enough to be considered a success, but adding some silverware to Anfield's extensive collection would be an excellent way for Rodgers to announce himself on Merseyside.
You can get odds of 3/1 (4.00) on the 39-year-old making an immediate name for himself by picking up a major trophy next season.
Of course, Rodgers earned himself a place in the Anfield hotseat thanks to his remarkable success at Swansea City, where he took the promoted club to within five points of his new employers in their first Premier League campaign.
He is sure to be granted a warm welcome on his return to South Wales, but will not allow sentiment get in between him and success.
And you can back Rodgers at 13/8 (2.63) to grant no favours and do the double over his old club next season.
The Swans managed a draw and a win against Liverpool last year, and are available at 33/1 (34.00) to go one better and collect all six points against their former hero.
Rodgers to manage Liverpool in the 2013-14 Champions League Group stages at 3/1 (4.00) with Paddy Power
Rodgers to win a major trophy in his first season as Liverpool manager at 3/1 (4.00) with Paddy Power
Liverpool to beat Swansea twice in the 2012-13 Premier League season at 13/8 (2.63) with Paddy Power
Swansea to beat Liverpool twice in the 2012-13 Premier League season at 33/1 (34.00) with Paddy Power
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Al Hain-Cole is a Liverpool fan, experienced tipster and avid follower of European football. He specialises in accumulators and if you would like to read more from Al you can follow him on Twitter here.
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