Brazil legend Rivaldo believes Jurgen Klopp's Liverpool are beginning to earn widespread recognition as "one of the great teams of recent history".
The Reds have the chance to become world champions for the first time in their history when they meet Brazilian side Flamengo in Qatar on Saturday evening.
The Brazilians won the Copa Libertadores last month to qualify for the Doha-based tournament and have a large supporter-base with them ahead of the game at the Khalifa International Stadium.
The World Cup winner says the Reds are now firmly establish as one of football's finest sides under Klopp as he compared them to Real Madrid and Barcelona.
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Speaking to Betfair: "The FIFA Club World Cup Final will be played this Saturday in Qatar with Liverpool as big favourites. But they must be careful about an opponent that is having a sensational campaign this season, winning the Copa Libertadores and Brazilian League.
"Jorge Jesus' side is playing well and with great confidence, so they have a chance of surprising the English side and claiming the trophy.
"On the other side it's Liverpool looking for their first title in this competition, so I think this is going to be a great match with both teams fighting very hard to lift the trophy.
"Liverpool can win another important trophy this weekend, and lead the Premier League by some distance, so the German coach and his team are making history for the club and are gaining a reputation as one of the great teams of recent history.
"They haven't won as many titles as Pep Guardiola's Barcelona or Zinedine Zidane's Real Madrid, but they are thrilling to watch and look to have improved on last season's high level. The comparisons they are starting to receive are fair."
Rivaldo, who was part of the Brazil squad that won the 2002 World Cup, says the Club World Cup final will matter more to Flamengo, given how differently the competition is viewed in Europe and South America.
"Flamengo carry plenty of threat from the midfield to the attack and it's tough to identify a player above any other as they are combining very well thanks to the freedom that the manager gives them," he added.
"The attackers have quality and are playing with joy and having that feeling inside the pitch is very important in football.
"Their defence is solid, but I highlight their attack because that's where I played and they have payers of big quality and personality in that area.
"Flamengo have a chance in this final and should not fear Liverpool.
"Furthermore, Flamengo should have plenty of fans in the stadium with tens of thousands flying from Brazil to Qatar, and we all know how fanatic their fans are.
"This is a very important competition for them, much more meaningful in South America than Europe.
"If they win, we'll have a big party at Rio de Janeiro on their arrival, while a Liverpool victory will not see them dancing on the streets of Merseyside."