I cannot believe that anyone in the media is still discussing this. The UEFA Champions League regulations (here in pdf format) make things completely clear.
"1.03 At the request of the national association concerned, the UEFA Champions League title-holders may be entered for this competition, as an additional representative of that association, if they have not qualified for the UEFA Champions League via the top domestic league championship. If, in such a case, the title-holders come from an association entitled to enter four teams for the UEFA Champions League, the fourth-placed club in the top domestic league championship has to be entered for the UEFA Cup." (my emphasis)
It's even happened before, Real Madrid won the Champions League and finished 5th in La Liga in 2000, they were entered into the Champions League by the Spanish FA and the team that finished 4th, Real Zaragoza, dropped into the UEFA Cup. So by the regulations and precedent, Liverpool must be in next season's Champions League and Everton must be in next season's UEFA Cup.
Then there is the vain hope that UEFA will somehow break their own rules and allow both Liverpool and Everton into the Champions League. I can't imagine UEFA doing that (I've stopped believing in Father Christmas for years). True, the original reason for no more than 4 teams per country (the 2nd group stage) has gone, but it still says in black and white.
"1.01 UEFA member associations may enter a certain number of clubs for this competition, in accordance with their position in the rankings listed in Annexe Ia, and subject to the approval of the UEFA Administration. However, no association may enter more than four clubs for the competition." (again my emphasis).
Whoever loses out on their Champions League place because of UEFA bending their own rules will be in court themselves within moments.
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