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Sky Sports News understands Isak has informed Newcastle he wants to explore his options this transfer window.
Liverpool are understood to have made an informal approach for Isak before signing Hugo Ekitike and remain huge admirers of the 25-year-old striker.
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Alexander Isak's top five goals in the Premier League for Newcastle, as he is linked with a move to Liverpool.
Sky Sports News' Mark McAdam explains why Liverpool are in a financially strong position to sign Alexander Isak from Newcastle.
I'm not saying he's outgrown Newcastle, but he's in a position where he is one of the best strikers in Europe playing for a team that doesn't really have the opportunity to win the Premier League, you would suggest.
He is ambitious, wants to win trophies and feels he should be earning £250,000 to £300,000 per week
He's not earning that at Newcastle, and he knows the other top strikers in the Premier League are earning that money
I think he doesn't want to be denied the possibility of that earning potential.
Sky Sports to show 215 live Premier League games from next season
From next season, Sky Sports' Premier League coverage will increase from 128 matches to at least 215 games exclusively live.
And 80 per cent of all televised Premier League games next season are on Sky Sports.
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