Newcastle United’s owners, the Public Investment Fund (PIF), have initiated steps toward a potential transfer of Alexander Isak to Liverpool, following a rejected £110 million bid from the Premier League champions[1]. Despite the initial refusal, Liverpool remains interested, with transfer expert Fabrizio Romano confirming that the club is prepared to make further attempts if Newcastle secures a top-class replacement striker[1].

Journalist Julien Laurens reports that Isak himself is eager to join Liverpool, having already engaged in secret talks with Liverpool manager Arne Slot and reportedly agreed on personal terms, including a substantial contract potentially worth £250,000 per week until 2030[2]. Isak has been training separately at Real Sociedad’s facility, awaiting confirmation of the move[2]. Liverpool is expected to increase their offer to around €140 million, which could entice Newcastle to accept and facilitate the transfer[2].

However, Newcastle’s reluctance ties closely to their need to first secure a replacement before allowing Isak to leave. Benjamin Sesko is currently viewed as the most likely candidate to fill Isak’s role, but negotiations for such a signing have made limited progress so far[3]. The club’s ongoing transfer difficulties are compounded by the absence of a sporting director and limited Premier League salary cap (PSR) room, which affects their flexibility in the market[3].

The situation has created tension, with Newcastle fans frustrated by Isak’s apparent disengagement from the club and his handling of the transfer saga. Manager Eddie Howe has commented on the issue, noting the complexity of retaining Isak amid Champions League qualification pressures and suggesting that criticism should be directed at the player rather than the club[3].

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In summary, while Liverpool’s pursuit of Isak is active and nearing a potential breakthrough, Newcastle’s insistence on securing a suitable replacement, combined with internal transfer challenges, could delay or complicate the transfer ahead of the summer window’s close in September 2025[1][2][3].