Bill Shankly bought centre-half Larry Lloyd from Bristol Rovers in April 1969 as cover for big Ron Yeats, who was by then nearing the end of his Liverpool career. Larry played in two consecutive League games in the Autumn of 1969 but was selected for the last 6 First Division matches of that 1969-70 season in the aftermath of the humbling F.A. cup defeat at Watford, although he had actually made his first-team debut in a European Fairs cup tie at Dundalk the previous September. Yeats filled in occasionally at left-back in the 1970-71 season, leaving the tall Bristolian free to establish himself at the heart of Liverpool's defence. He only missed 2 League fixtures that year and helped his young side reach the F.A. cup final, where they were beaten in extra-time by Arsenal. More disappointment followed a year later when a disallowed 'goal' a few minutes from the end of the final League game cost them the championship. But in 1972-73 those near misses were forgotten as Liverpool captured a championship and UEFA cup 'double', with Larry playing in every single one of the 66 competitive matches the club played during that draining season and also scoring the winning goal in the European final against Monchengladbach.
Lloyd was still very much first-choice at the start of the next season and played in 27 consecutive First Division games up to and including the home fixture with Norwich City on 2nd February 1974. He was substituted by Peter Cormack on that day and the Scot scored the last-minute winner to keep Liverpool just about in touch with Leeds at the top of the table. Cormack replaced Lloyd from that moment on, numerically if not positionally, and the club made it known that they were prepared to listen for offers for a man who was still only 25 years old and had several good years ahead of him. Coventry City were prepared to pay what was for the time a very high fee, even considering the player's age, and Larry left Anfield for Highfield Road in August 1974.
He stayed at Coventry for two seasons before moving on to Nottingham Forest, where he achieved even greater success than he had on Merseyside, twice being a member of a European cup-winning side and winning another League championship medal. He moved to Wigan as player-manager in March 1981 and although he took the Lancashire club into the Third Division a year later, he was dismissed the following season. He also had a short spell in charge of Notts. County before retiring from the game and concentrating on his new life as a publican in the Nottingham area.