Below is a summary of the full article. Click here for the full version or go back to LFC Live.net
The Reds’ interest in the striker is well-documented, while the 25-year-old has already informed the Magpies of his desire to leave the club.
Newcastle are currently on a pre-season tour of the Far East, but Isak was left out of the travelling squad due to a minor injury.
It later emerged that he wished to explore opportunities to leave the club and has been training with his former side, Real Sociedad.
Liverpool have now put in a first bid for the striker, only to see it knocked back by Newcastle.
But Liverpool have made no secret of their ambition this summer as the club continue to target the very best players.
Their current spend for the transfer window stands at £295m, having also brought in Hugo Ekitike, Milos Kerkez, Jeremie Frimpong, Giorgi Mamardashvili, Armin Pecsi and Freddie Woodman.
A £200k deal with Salford City has also been agreed for teenage striker Will Wright.
With the Reds now firming up their interest in Isak, the reigning Premier League champions will have to smash the £400m barrier if they are to persuade Newcastle to sell.
The Magpies have been adamant all summer long that the Sweden international was not for sale, with an initial asking-price reported to stand at £150m.
But it was reported by ECHO sister site the Chronicle on Thursday that Newcastle are understood to be angry at being forced to play a waiting game regarding a bid from Liverpool for Isak.
The Reds have now made their move.
Meanwhile, they missed out on both Liam Delap and Joao Pedro to Chelsea earlier in the window.
And while their pursuit for a new striker goes on, with a month to go until the transfer window closes, the Reds have signalled their intent by making their first official bid for Isak.
Newcastle are next in action against Tottenham Hotspur in Seoul on Sunday 3 August
But with Liverpool now having made a first move for the striker, it remains to be seen if there will be a swift resolution to the transfer saga.
For more news relating to Chelsea, visit our sister site Chelsea Latest Live.