Eidur Gudjohnsen’s penalty gave the Premier League outfit a scare, but Raheem Sterling and the Brazilian both scored inside the final three minutes to reach the FA Cup fifth round

Philippe Coutinho celebrated his new contract with a sensational stoppage-time winner as Liverpool left it late to beat 10-man Bolton 2-1 and secure progression to the FA Cup fifth round.

Steven Gerrard’s 700th Liverpool appearance looked set to end in defeat when a 59th-minute penalty from Eidur Gudjohnsen put hosts Bolton ahead in Wednesday’s fourth-round replay.

However, Raheem Sterling’s fine volley pulled Liverpool level with four minutes remaining – following the dismissal of Neil Danns – and the Championship side were subjected to further heartbreak when Coutinho, who signed a new long-term deal at Anfield earlier this week, found the net with a sublime 25-yard strike.

Defeat would have been harsh on Brendan Rodgers’ men, who hit the woodwork on three occasions prior to their late goals.

Liverpool will now travel to Crystal Palace in round five, while Bolton will return to Championship action having given their more illustrious opponents a major scare over 180 minutes.

Home goalkeeper Andy Lonergan had to be alert early on to deny Gerrard – who followed Ian Callaghan and Jamie Carragher in reaching 700 games for Liverpool – and Sterling as the visitors made a fast start.

Bolton gradually grew into the game, and Gudjohnsen should have done better when he was played in by Josh Vela, only to shank his effort high over the bar.

The underdogs could well have taken the lead when David Wheater connected with Liam Feeney’s free-kick, but the centre-back’s header was well held by Simon Mignolet.

Liverpool responded by going even closer to an opener, as Sterling picked up the ball outside the area and curled a superb effort that rattled off the crossbar.

Mignolet was called into action again to keep out a dipping half-volley from Bolton’s joint top-scorer Matt Mills, who led the line rather than occupying his usual position in defence.

Liverpool threatened to seize control as the opening half drew to a close though, with Coutinho – looking bright cutting in from the left flank – driving just wide of the right-hand upright from the edge of the box.

Bolton made a strong start to the second period and were buoyed further when Sterling started limping, with an apparent recurrence of an ankle knock picked up in the first half.

That didn’t stop the forward twice testing the Bolton defence – breaking through only to be halted by Dorian Dervite’s terrific last-ditch tackle before forcing Lonergan into another fine stop.

Liverpool were left stunned when referee Roger East penalised Martin Skrtel for a foul on Zach Clough in the area, with Gudjohnsen coolly side-footing home the resulting spot-kick.

However, Bolton then suffered a setback when Danns picked up a second yellow card for a late challenge on Joe Allen and Liverpool twice hit the woodwork, through Jordan Henderson and Emre Can, as they surged forward in search of an equaliser.

Former Bolton forward Daniel Sturridge was introduced by Rodgers, but it was Sterling who eventually equalised with a controlled left-footed volley from Can’s exquisite pass.

Coutinho then took centre stage, firing a dipping shot beyond Lonergan to leave Bolton devastated.

The former Inter man has struggled for goals this season but his manager claims his all-round impact on matches has been highly impressive

Liverpool manager Brendan Rodgers has hailed Philippe Coutinho, comparing the midfielder to Real Madrid pair Luka Modric and Toni Kroos.

The former Inter man signed a new contract with the Anfield outfit on Tuesday that saw him commit his future to the Reds until 2020.

And Rodgers does not feel that the 22-year-old needs to improve his goalscoring record to be a success given how Modric and Kroos have advanced their careers.

“If you look at that type of player he is, you look at Modric,” he told reporters.

“He doesn’t have a big goalscoring record, but he is a world-class player, a continuity player. He can make passes and put the ball in behind and he gets the odd goal from outside the box.

“He is a top-class player who can create the game who is so important in opening up doors for the team.

“Toni Kroos is another of that type; a wonderful footballer and great passer.

“They maybe don’t get as many goals for what their technique is, but their role is to sit behind the ball and create goals for others.

“Their role is not to score 20 a season. Phil’s numbers will improve, but it is not the be all and end all if he doesn’t get 20 a season.”

The Brazil international has found the net on just two occasions this season, though his all-round performances in recent weeks have caught the eye.

And Rodgers is under no doubt that the the greater responsibility the player is showing in attacking areas will lead to more goals.

“He has a wonderful strike on him, so it will be about arriving into areas where he can make movements without the ball.

“There are areas to improve in the accuracy on his shooting; he has a wonderful move to work the space but at times you see him dragging the shot.

“At the minute I don’t have too many complaints about him as he’s pressing the game really well, he is being aggressive in hunting the ball and his two assists at the weekend were sublime.

“Hopefully in years to come the goals will come more readily for him.”

After missing out on a League Cup final berth, the Reds have another chance of reaching Wembley but they must overcome Bolton Wanderers in their fourth-round replay

Brendan Rodgers insists Liverpool will be doing all they can to reach the FA Cup final after narrowly missing out on an appearance at Wembley in the League Cup.

The Merseyside outfit are preparing to face Bolton in an FA Cup fourth-round replay at the Macron Stadium on Wednesday – a week on from their painful 2-1 aggregate reverse to Chelsea in the League Cup semi-finals.

That defeat represents Liverpool’s only loss in 12 matches in all competitions and Rodgers is backing his players to make a charge towards the FA Cup final.

“Obviously after that game [against Chelsea], there’s a feeling that maybe it would disrupt or provoke a negative reaction to our season,” Rodgers told reporters.

“But if anything, it’s only promoted the development and the momentum that we have. Of course we wanted to get through to the final. But the performance level over the two games and leading into those games has given us great encouragement that our best football is yet to come.”

Rodgers, who has helped to reverse Liverpool’s form this term despite the 0-0 draw at home to Bolton on January 24, added: “There are still good teams in it [the FA Cup]. As I said, it only counts if we get through ourselves.

“So for us it’s looking at the Bolton game and it being a tough game but for sure you get through each game and it optimises your chances of getting through to the final.

“We’re in two competitions now [the FA Cup and the Europa League]. Two cup competitions and we want to go as far as we possibly can in them.

“That will be reflective in our teams and in our drive and desire to get through in the competition.”