Liverpool are considering a blockbuster £120 million ($160 million) bid for Newcastle striker Alexander Isak despite the Magpies' desire to hold onto the Sweden star, according to reports on Wednesday.
The Premier League champions are yet to make a formal offer for Isak but he is believed to be high on their wanted list as boss Arne Slot looks for a new forward in the wake of Diogo Jota's death.
Isak joined Newcastle from Real Sociedad for £63 million in 2022, emerging as a key player for Eddie Howe's team.
He scored 23 Premier League goals last season to fire the club into the Champions League for the second time in three years.
Isak also scored in Newcastle's League Cup final victory over Liverpool at Wembley, which ended the Magpies' 70-year wait for a major domestic trophy.
The 25-year-old, who is currently at a pre-season training camp in Austria, still has three years remaining on his contract and Newcastle are understood to be trying to tie him to a new deal.
🚨🔴 Liverpool have again confirmed to Newcastle intention to present record bid for Alexander Isak, as revealed on Tuesday.
— Fabrizio Romano (@FabrizioRomano) July 15, 2025
The proposal is ready for £120m package but will only be sent if Newcastle change their stance, always been… not for sale.
🎥 https://t.co/pe35349gRE pic.twitter.com/MsPl6BPNQI
They have reportedly put a value of around £150 million on Isak in an attempt to ward off potential suitors, with Arsenal also reportedly contemplating an offer.
Newcastle's majority owners, Saudi Arabia's Public Investment Fund, have the financial muscle to resist any approach for a player who is said not to be agitating for a move.
Darwin Nunez and Federico Chiesa have also been linked with moves away from Anfield, which would increase their need to bring in a new striker.
As well as their Isak interest, Liverpool have been linked with Eintracht Frankfurt's £70 million-rated forward Hugo Ekitike, who has also attracted attention from Newcastle.