Jordan Henderson is a man in form; a player who is benefiting from regular football, top quality coaching and a new-found confidence.
The 23-year-old has started all 33 of Liverpool's Premier League games this season as Brendan Rodgers' side have sprung a surprise title challenge, leading the race with five games remaining. Henderson has been pivotal in The Reds' resurgence.
The former Sunderland midfielder has benefited from playing a more central role in the last four months; where previously he was a victim of his own versatility, being played at right wing-back, right-midfield as a "false left winger" or generally wherever his manager, whether it be Rodgers or previously Kenny Dalglish, asked. Always eager, always 100 percent, never grumbling. Henderson's attitude is exemplary.
"Hendo" has five goals to his name this season, four of which came in the league, one short of last season's total.
According to Squawka's player rankings, Henderson is the fifth highest performing midfielder in the Premier League this season—behind only his club captain Steven Gerrard, and Manchester City trio Yaya Toure, Nasri and David Silva.
Henderson signed for Liverpool from Sunderland for an undisclosed fee in June 2011, with many media outlets, such as BBC Sport, reporting the deal had a value of £20 million. Such a valuation was a surprise to many and it is unlikely that was the initial fee, but the potential maximum amount The Wearsiders could receive over the terms of his contract with added bonuses.
For instance, Glen Johnson's move from Portsmouth included a £1 million bonus should Liverpool win the league during his initial five-year contract, as per BBC Sport. Other similar bonuses may include international appearances or being part of England's World Cup squad—which Henderson looks almost certain to be this summer.
Henderson's initial contract length was not disclosed, merely a "long-term deal," believed to be five years, expiring in 2016 according to Transfermarkt. Numerous reports, including one via The Mirror, earlier in 2014 suggested Liverpool were ready to offer him a new deal soon.
According to Google, Henderson's wages are £3.38 million per year; £65,000 per week. If we take the reported £20 million fee and divide that by the reported five-year contract, Henderson's financial amortization each season is £4 million, giving him a current value £8 million this summer.
Given that Henderson appears extremely likely to sign a new contract this summer, with managing director Ian Ayre having told club sponsors Standard Chartered that new deals will be signed by key staff—as per The Daily Mail—his value will increase subsequently once the new deal is signed.
At the age of 23, Henderson has a lot of development in terms of his playing ability too; very much the theoretical "moneyball" signing, similar to Philippe Coutinho and Daniel Sturridge, even if his original fee seemed somewhat exorbitant.
Henderson has grown in his presence on the field and if he continues to do so, and becomes an England regular, perhaps impressing at this summer's World Cup, his value could skyrocket.
Henderson is ranked above Manchester United's Michael Carrick—who cost £18.6 million in 2006, according to BBC Sport—and Arsenal's Santi Cazorla—who cost around £15 million in 2012. So you could argue he is worth a similar amount to those. However, he's also ranked above Mesut Ozil, who Arsenal splashed £42.5 million on last summer so such comparisons are hardly worthy.
That Henderson is performing similarly to Nasri, who moved from Arsenal to Man City at a similar age for a reported £25 million again skews the picture.
The truth is that all transfer fee calculations are meaningless; it depends on the climate of the market—how much the buying club are prepared to pay, and how much the selling club are prepared to accept. Case in point being Fernando Torres' move from Liverpool to Chelsea, and Andy Carroll's subsequent move from Newcastle to Liverpool.
Henderson is valued at £13 million by Transfermarkt but that figure will only rise once he signs a new deal and the season ends with Liverpool back in the Champions League, strengthening their power in the market as both a buying and selling club—not that they would be looking to sell Henderson.
Bizarrely, what comes to mind with Henderson is that he has never, until perhaps this summer, been worth the amount he was initially signed for. Seemingly now though, he is well on his way to being a £20 million player.
Given a top 3 finish with Liverpool, a place in England's World Cup squad and possibly their starting XI, plus the imminent new contract, Henderson will be worth £20 million at least.