Liverpool’s €138 million offer for Alexander Isak has been rejected by Newcastle United, who are holding out for a replacement. The Swedish striker is eager to join the Premier League champions, but the Magpies are reluctant to sell. The saga is heating up as the transfer window progresses.
The transfer window is heating up, and one of the most explosive developments so far has been Liverpool’s audacious pursuit of Swedish striker Alexander Isak.
After finalizing the sale of Luis Díaz to Bayern Munich in a deal reportedly worth close to €75 million, the Reds wasted no time in reinvesting those funds. Their top target? Newcastle United’s talismanic forward, who has blossomed into one of the most complete and feared strikers in English football. But despite Liverpool’s staggering €138 million bid plus performance-related bonuses the Magpies have rejected the offer outright, holding firm in the face of pressure from both the buying club and the player himself.
According to highly respected journalist Fabrizio Romano, Liverpool’s proposal included €138 million in fixed fees and undisclosed bonuses that could have pushed the deal well beyond that mark. The move would have made Isak one of the most expensive signings in football history and the second most costly transfer ever for Liverpool. However, Newcastle’s message was unequivocal: Isak is not for sale at least not yet, and not without a proper replacement lined up.
This stance comes despite mounting speculation that Isak is open to a move. Sources close to the player have suggested he is enthusiastic about the opportunity to join the reigning Premier League champions, a club that offers Champions League football, a storied history, and the chance to lead the line in a refreshed, title-hungry attack under new manager Arne Slot. With Liverpool entering a transitional era following Jürgen Klopp’s departure, the arrival of a striker of Isak’s calibre would signal intent and ensure continuity at the highest level.
But Newcastle are in no mood to weaken their side without a fight. Club executives are fully aware of Isak’s importance not only in terms of goals, but also in his link-up play, work rate, and growing leadership within the squad. He’s considered the face of the club’s post-takeover project, and after helping Newcastle win their first major trophy in 70 years with the EFL Cup triumph last season, his status among fans and teammates alike has reached iconic levels.
His numbers speak for themselves. Since arriving from Real Sociedad in 2022 for a then-club record fee of around €70 million, Isak has gone from strength to strength. Last season, he racked up 27 goals and 6 assists across all competitions, including key performances in high-pressure fixtures that helped Newcastle secure a fifth-place finish and return to Champions League football. His blend of pace, technique, and intelligence combined with his ability to both lead the line and drop deep makes him a nightmare for defenders and an ideal fit for Liverpool’s fluid, pressing-based attacking system.
However, Newcastle’s refusal isn’t just about sentiment. The Magpies are facing a conundrum: while they’re reluctant to let their star striker leave, they’re also aware that holding on to an unsettled player can cause disruption. Their plan, reportedly, was to secure a like-for-like replacement before even considering offers. Hugo Ekitiké, the French forward formerly at PSG, was one of the names on their shortlist. But in a cruel twist of fate, Ekitiké ended up signing for Liverpool instead, in a deal worth €80 million (potentially rising to €95 million), effectively closing that door for Newcastle and complicating their planning.
This leaves Newcastle in a bind. On one hand, Isak’s contract runs until 2028, giving them significant leverage. On the other hand, if the player’s desire to move intensifies and alternative replacements prove hard to come by, they may eventually have to reopen discussions. For now, though, the club is sending a clear signal: any departure must happen on their terms.
Meanwhile, Liverpool’s aggressive activity in the market has continued to raise eyebrows. The club has already spent more than €300 million this summer an unprecedented figure that reflects both the scale of the squad overhaul and the ambition of the new technical leadership under Arne Slot and sporting director Julian Ward. In addition to Ekitiké, Liverpool secured the signature of Florian Wirtz from Bayer Leverkusen for €117 million, a deal that could rise to €135 million with bonuses. The 21-year-old German international is now Liverpool’s most expensive signing ever and may soon become the most expensive player in British football history. That record is currently held by Chelsea’s Enzo Fernández, whose transfer from Benfica in 2022 cost the Blues €121 million.
With Wirtz and Ekitiké already on board, the potential addition of Isak would have turned Liverpool’s forward line into one of the most formidable in Europe. But for now, the deal is at a standstill. Much will depend on Newcastle’s ability to identify and acquire a new striker they deem fit to replace their star man. If that doesn’t happen in time, the Magpies may simply shut the door entirely at least for this transfer window.
Still, the player’s wishes loom large. Isak has reportedly expressed a desire to take the next step in his career, and Liverpool represents an opportunity too tempting to ignore. The coming weeks will be decisive. If Newcastle soften their stance or a new target becomes available, negotiations could resume. If not, Liverpool may be forced to turn their attention elsewhere perhaps to other elite strikers across Europe.
One thing is certain: the Alexander Isak saga is far from over, and with the transfer window still wide open, the next chapter could be written at any moment.
