Liverpool are threatening to finish the season much as they began it - squandering opportunities and spilling points.

Leicester City's third consecutive league win at Anfield may ultimately cost Liverpool at place in next season's Champions League and if that proves to be the case they will certainly rue this clumsy, almost inept performance.

With only two games left, Gerard Houllier's side finds itself outside the Premiership's top three and thus staring bitter disappointment.

Having changed colours and clubs the old Filbert Street hero Emile Heskey was baited by those who once worshipped him.

The absence of the injured Steven Gerrard from the Liverpool midfield did at least provide Jamie Redknapp with a chance as he attempts to add some substance to the rather fragile claim that he is now fit enough to be considered for a place in this summer's European Championship finals.

The game was still lingering in its third minute when Liverpool's wake-up call arrived.

The blame for what was, from a Liverpool perspective, a very sloppy goal lay at the cultured feet of Dietmar Hamann, for as Neil Lennon delivered the lobbed pass that Tony Cottee was to covert with such a flourish, the German international was day-dreaming.

Liverpool's response was to inject so much pace into their football that they surrendered their rhythm.

But they had their moments. Redknapp went close with a nicely measured free-kick that Pegguy Arphexad did well to fingertip away to safety but for no apparent reason the guile that has sustained Liverpool of late had been replaced by a palpable sense of desperation.

Liverpool's discipline was also to desert them. Standing toe to toe with a team that has always extolled the virtues of frantic endeavour and fulsome tackling, Liverpool allowed themselves to be distracted and their effectiveness dipped appreciably.

Leicester did not hesitate to take full advantage. Four minutes into an equally robust second half they doubled their lead, again at the invitation of their hosts.

Muzzy Izzet's corner was, at best, orthodox and would certainly have fallen at Liverpool's feet had Dominic Matteo not jumped to make the slightest of contacts. The ball looped up and over goalkeeper Sander Westerveld, dropping directly in front of Phil Gilchrist, who bundled in from no great distance.

Robbie Fowler was promptly introduced as a substitute and the onslaught began.

The chances came, plenty of them, but Arphexad was in outrageous form, defying the odds, gravity and the Liverpool strikers with a catalogue of sublime stops.

Liverpool: Westerveld; Matteo, Henchoz, Hyypia, Carragher; Thompson, Redknapp, Hamann (Fowler, 53 min), Berger; Owen (Camara 66), Heskey.

Leicester City: Arphexad; Gilchrist, Elliott, Sinclair; Izzet, Lennon, Savage, Impey, Guppy; Cottee, Eadie.

Referee: G Poll (Tring).