Things are heating up at St James’ Park, but not in a way Newcastle fans will like. Alexander Isak, the team’s key striker, has reportedly submitted a transfer request and has been excluded from the Magpies’ pre-season squad. Despite Newcastle’s efforts to keep him — including a massive £300k-per-week contract offer — the Swedish forward seems determined to seek a new challenge, likely within the Premier League.
Liverpool are keen and appear to be the frontrunners, ahead of Saudi club Al-Hilal. Reports suggest Liverpool are willing to pay around £120 million for Isak, even if it means parting ways with players like Harvey Elliott or Darwin Nunez. Interest from Bayern Munich in Luis Diaz might also help Liverpool finance the deal.
Here’s where it gets intriguing. Newcastle would prefer to hold out for £150 million, an amount Al-Hilal can afford. But Premier League and UEFA financial regulations complicate things. Both Newcastle and Al-Hilal have links to Saudi Arabia’s Public Investment Fund (PIF), and transfers between clubs with shared ownership face intense scrutiny.
Within the Premier League, such deals must meet a “fair market value” standard, which could lead to a reduced transfer fee for accounting purposes. UEFA’s Financial Fair Play rules go even further — transactions between two PIF-owned clubs are treated as zero profit when assessing compliance.
Because of these regulations, it may actually make more financial sense for Newcastle to sell Isak to Liverpool — a direct rival in the Premier League — rather than to a Saudi club. Plus, Isak reportedly prefers to stay in England, making the Liverpool move more likely.
Losing Isak would be tough, especially to a league competitor. But with the Premier League’s Profit and Sustainability Rules (PSR) and UEFA’s Financial Fair Play (FFP) pressure, Newcastle might not have much choice. The money from Liverpool would fully count in their financial accounts, providing important relief as the season approaches.
Ultimately, practical considerations may outweigh emotions. If selling Isak to Liverpool is the only option that works both financially and competitively, don’t be surprised to see the Swedish striker at Anfield this August.
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