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Alexander Isak arrives for the Premier League match between Liverpool FC and Newcastle United FC at Anfield on February 26, 2025(Image: Serena Taylor/Newcastle United via Getty Images)

Jamie Carragher believes the outcome of the Alexander Isak transfer saga has the potential to define both Liverpool and Newcastle United's respective campaigns.

And the Reds legend has slammed criticism of the Premier League champions' £110m offer, saying claims it was derisory are "divorced from reality".

Liverpool made the offer - which, as a flat fee, would have been a British-transfer record - at the start of August but were instantly rebuffed by the Magpies, who have insisted the Sweden international's valuation is £150m.

Isak refused to fly out on the club's pre-season tour of the Far East last month after citing a minor thigh issue and then returned to training by using the facilities of his former club Real Sociedad.

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After being left out of Saturday's goalless draw at Aston Villa, the striker is also certain to be absent when the Reds travel to St James' Park on Monday night and the game comes less than a week after he released a statement on social media bemoaning broken promises alongside a demand to be sold.

Liverpool are awaiting further encouragement from Newcastle to return to the table but Eddie Howe and his staff have so far struggled to land an adequate replacement having lost out in attempts to sign Liam Delap, Joao Pedro, Hugo Ekitike and Benjamin Sesko.

"The Alexander Isak transfer saga has the potential to define Newcastle United and Liverpool’s season," Carragher writes in his Telegraph column.

"Today, it is Eddie Howe’s crisis.

If Isak is not a Liverpool player early next week, he and Slot must accept that it is not going to happen in this transfer window.

"For all the praise of how Liverpool have conducted their business this summer - and no-one is more admiring than me - the next few days are crucial to their title defence.

"Slot will not defend the crown with only three out-and-out attackers of Mohamed Salah, Cody Gakpo and Hugo Ekitike

"They cannot carry the goalscoring burden without at least one more, preferably two, top-class operators across the front line, especially as Salah will be on Africa Cup of Nations duty in December."

Carragher, who made 737 appearances for the Reds and won nine trophies during his time at the club, also urged Slot and sporting director Richard Hughes to consider alternatives if a deak for Isak proves beyond them before the September 1 window.

He adds: "Liverpool must be ruthless.

It cannot be 'Isak or no one'.

Whatever their plan B is, they need to start thinking about executing it.

"When Liverpool sold Luis Diaz, such is the trust in those in charge of their strategy there was an assumption they had a younger replacement lined up.

"Obviously I would like to see the Swedish striker become a Liverpool player, but not at any cost, and the suggestion that the first £110m offer for Isak is 'derisory' is divorced from reality.

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"If Liverpool bid more than £130 million, it is too much.
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