Alexander Isak transfer: Eye-watering Newcastle demand and Liverpool's major contract advantage

Alexander Isak is one of the hottest strikers in the world and Newcastle are well aware of the interest from their Premier League rivals. Isak enjoyed a stellar 2024/25 season, scoring 27 goals in all competitions, and the Magpies now face a battle to keep hold of their star player.

On the face of things, there are no concerns for Newcastle. The Sweden international is under contract until June 2028 and is happy at St James’ Park, where he is leading the line for an upwardly mobile team.

Newcastle will compete in the Champions League again next season after finishing fifth. They lifted the Carabao Cup in February after beating Liverpool in the final at Wembley. And, with the backing of the Saudi Arabia Public Investment Fund, they can compete for exciting new players in the summer transfer window.

But the reality is different – and Newcastle know they could be victims of their own success with Isak. Having splashed out £63million to break their transfer record and sign Isak from Real Sociedad in August 2022, they have seen their asset attract admiring glances from elsewhere.

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Arsenal hold a long-term interest in the 25-year-old, who has now scored 62 goals in 109 games across all competitions and broken the 20-goal bar in the Premier League twice. And now Liverpool have emerged as another potential threat, after showing they will shell out huge fees to get the players they want, with Florian Wirtz costing £116m.

Here Mirror Football examines the state of play between all the parties and suggests the likely outcome in the summer transfer window.

Newcastle's plans

Isak is already the top-earner at Newcastle, pulling in around £150,000 per week on a deal that runs for another three years. He is undoubtedly happy with his situation, stating last season: “It’s been written how much I love the city and the club, how well I feel there. I’m not thinking about the future. I just want to perform for Newcastle.”

And yet the club knows they need to act. The Times have reported that Newcastle are willing to break their wage structure in order to hand Isak even more attractive terms. With Champions League football looming again, Eddie Howe knows how important it is to keep Isak.

"I never make those guarantees about any player and it’s not to do with Alex’s future but I’d be foolish to sit here and do anything like that,” he said at the end of the campaign.

“We want to keep our strongest players, I’ve said that ever since I’ve been here and sat in this seat. We have to try and keep our best players and bring in more good players to make us even stronger because the ambition of the club and everyone connected with the club is long-term success and that’s the only way to get that."

Liverpool’s advantage

Newcastle have tried to ward off interest by quoting a gigantic asking price. They are said to value Isak between £150m and £200m, with the PIF aware of how crucial he is to the project in the north east.

The problem is that giving him an enormous new contract threatens the stability of the dressing room. If they give Isak a club-record contract then the likes of Bruno Guimaraes and Sandro Tonali may come calling, asking why they aren’t earning similar amounts. In the age of the Premier League’s profit and sustainability rules, these things matter.

This is where Newcastle are vulnerable, because Liverpool have greater financial power. They are paying Mohamed Salah around £380,000 per week and, quite simply, have deeper pockets, having largely kept their powder dry in previous windows.

The Daily Mail reports that, while a move for Isak this summer is improbable, it is – at least in theory – possible. Liverpool would need to sell a few big-hitters to clear the decks further, especially given the additions of Wirtz, Jeremie Frimpong and Milos Kerkez.

Darwin Nunez is heading for the exit and Liverpool could decide to bide their time and make a move next summer for Isak, after bridging the gap this summer with a cheaper alternative.

The next month will be instructive in the direction of travel, especially if Isak doesn’t put pen to paper on a new contract with Newcastle.

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