Liverpool have reportedly failed with a first official bid for Newcastle United striker Alexander Isak.
The former Real Sociedad striker is the Reds' prime target heading into the 2025-26 Premier League campaign, and he has apparently informed the Magpies that he wishes to explore a move to Anfield.
Isak was omitted from Newcastle's pre-season tour of Asia due to the uncertainty surrounding his future, and he is currently training alone at former club Real Sociedad while the saga plays out.
Newcastle are insistent that Isak will not leave for anything less than a Premier League record fee, forcing Liverpool to trump the £116m package they agreed to pay Bayer Leverkusen for Florian Wirtz.
Now, The Athletic reports that the Reds have come forward with a formal offer for the 25-year-old, but Newcastle swiftly rejected their rivals' advances.
Liverpool's Isak bid details revealed as Reds offer 'rejected' amid Newcastle 'encouragement'
Additional detail from Fabrizio Romano claims that Liverpool's bid was worth a staggering £120m plus add-ons, which would have made Isak the most expensive footballer in Premier League history.
While the Sweden international has remained unwavering in his desire to sign for the English champions, Newcastle are keeping the door shut on an exit and are not expected to consider selling before they have agreed a deal for a replacement.
Isak's contract at St James' Park runs until the summer of 2028, leaving Newcastle under no pressure to sell from that point of view, and the Magpies have supposedly been trying to tie him to a new deal with a release clause.
That option would have become active in 2026, and some of Isak's teammates have supposedly tried to encourage the striker to stay put at St James' Park, but he only has eyes for a summer move to Merseyside.
Isak finished second in the 2024-25 Premier League Golden Boot race with 23 goals - only behind Mohamed Salah's 29 - and the Swede has come up with 62 strikes and 11 assists in 109 games for Newcastle in all competitions since joining from Real Sociedad in 2022.
How are Newcastle progressing with Isak replacement search?
Newcastle had been braced to receive a formal offer from Liverpool for Isak this week, and as is the case with many high-profile dealings, the first bid being rejected was always seen as an inevitability.
Liverpool may have to stump up at least £130m and potentially up to £150m to prise Isak away from St James' Park, but the Reds could hardly be in a healthier position financially, so there are no concerns on that front.
On Newcastle's side, the Magpies are understood to have earmarked RB Leipzig's Benjamin Sesko as an ideal replacement for the Scandinavian, although Manchester United are also chasing the Slovenian and are apparently preparing a bid.
Brentford's Yoane Wissa is also still doing his utmost to force a move to St James' Park, but there has been little movement on that front since Newcastle had a £25m offer rejected by the Bees.
Alternatively, Eddie Howe's side are rumoured to be keeping an eye on a Brazilian centre-forward, as well as one of Sesko's fellow Bundesliga strikers.