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Liverpool travel to face Leicester on Monday night knowing they realistically need a victory to maintain their challenge for a top-four finish this season.
Jurgen Klopp's side now trail fourth-place Manchester United by four points, having played the same number of games, after Erik ten Hag's side beat Wolves 2-0 on Saturday.
Liverpool can move back to within one point of United if they beat Leicester at the King Power Stadium.
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But the Foxes are also in desperate need of a win, with the club currently second bottom of the Premier League – two points adrift of safety with only three games remaining in their season.
It has been a disastrous campaign for Leicester, who parted ways with former manager Brendan Rodgers in April.
Results have failed to improve under new boss Dean Smith, leaving the club facing the prospect of relegation – seven years after they were crowned Premier League champions.
According to The Telegraph, Leicester have scrapped their end-of-season awards dinner with the club at risk of dropping into the Championship.
The club have axed the annual event as senior officials believe it will be inappropriate, given the current circumstances.
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It is claimed that a provisional date for the awards night had been set for next week, but the decision was taken to cancel it earlier this month.
Leicester players facing huge wage cuts
The report also adds that Leicester's players will have their salaries slashed by up to 50 per cent if the club fails to beat the drop.
There is believed to be salary reduction clauses of between 35 and 50 per cent for all players in the Leicester squad, easing fears that the club would be unable to sufficiently reduce their wage bill if they are relegated.
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While Leicester still have hopes of avoiding the drop, the club is seemingly preparing for the worst.
Martyn Glover, the head of senior recruitment, and his staff are focusing on young players already performing well in the Championship.
Aston Villa's loanees Cameron Archer and Aaron Ramsey are impressing at Middlesbrough and have been touted as potential signings for the Foxes.
There are also likely to be departures if Leicester are relegated, with James Maddison and Harvey Barnes expected to leave and Youri Tielemans set to move on a free transfer once his contract expires at the end of the campaign.
Featured Image Credit: AlamyTopics: Leicester City, Football, Premier League, Liverpool