Alexander Isak Transfer: Where Will He End Up?
Newcastle United remain adamant that Alexander Isak is not for sale, with manager Eddie Howe cautiously expressing his belief that the Swedish striker “will be here at the start of the season.” However, behind the scenes, uncertainty is mounting within the club. Concern is growing that Isak’s attention may have shifted elsewhere—especially as Newcastle continue to face obstacles in the current transfer market. The 25-year-old is entering the peak years of his career, and merely qualifying for the Champions League may no longer suffice.
Despite Howe’s reassurances, his actions paint a more complex picture. The fact that the manager chose to “send him home” from a pre-season friendly due to ongoing transfer speculation was both unusual and telling. In such a critical period, that move seemed conspicuous. Some of Isak’s teammates have refrained from commenting on his future, further fuelling speculation. Even as Howe insists the player is “happy at Newcastle,” his remark that he respects “a player’s career and how short it is” sounded like a subtle acknowledgement of possible departures.
The central issue is not Newcastle’s public position but whether Isak himself is willing to push for a move. Until recently, most believed that to be unlikely due to his composed nature. However, that confidence has begun to wane. The dynamics of the transfer window often introduce unpredictable factors. When significant sums of money are suddenly involved, situations can shift dramatically. If Isak is to depart, he may need to proactively pursue an exit—but there are concerns that time could run out before any concrete steps are taken.
Sources close to the player have long indicated that his future was never “clear cut.” Even last year, insiders predicted that this summer would be decisive. Although Newcastle’s ownership is both controversial and immensely wealthy, their financial strength means they arguably have less need to sell than most clubs. However, keeping a player who may no longer be fully committed is a risk no squad can afford to take.
Ultimately, the question remains: to what extent has Isak’s mindset shifted?
The Price of Greatness
There is, however, one major caveat in all the discussion: the asking price. Newcastle reportedly value Isak at approximately £150 million and are unwilling to consider offers significantly below that figure. This price tag alone drastically narrows the pool of potential buyers.
While many elite clubs would relish the opportunity to sign Isak, only a limited number have the financial capacity to do so outright—and even fewer possess the necessary budget during this transfer window.
Real Madrid, for instance, lack room in their attacking ranks and are focused on reinforcing their midfield, with departures in the forward line required before any major additions. Barcelona, meanwhile, have the need but not the financial resources, as evidenced by their interest in acquiring Marcus Rashford on a loan basis. Paris Saint-Germain might be worth monitoring; Isak would suit the profile of their newly crowned Champions League-winning side. Nevertheless, current indications suggest they are prioritising other areas.
Bayern Munich, by contrast, do have the budget and positional need. They have previously explored deals worth around £100 million for players like Florian Wirtz and Luis Díaz. However, they are not believed to be among the clubs that Isak would consider joining.
This situation leads to an uncomfortable reality for Newcastle: the clubs showing the most serious interest are their direct Premier League competitors.
The English Options
Manchester United and Tottenham Hotspur are barely worth mentioning in this context. Chelsea have reportedly given the idea some thought, particularly given co-owner Behdad Eghbali’s enthusiasm for player trading. However, bringing in Isak would require a major restructuring of their wage hierarchy, and there is currently no credible indication that a move is imminent.
Manchester City, having already spent £350 million since January, have used up most of their PSR (Profit and Sustainability Rules) buffer. Meanwhile, Liverpool would need to invest another £120 million just to match that spending figure this calendar year, which underscores how their recent spending restraint has provided them with flexibility this summer.
All eyes are now on Liverpool, and the footballing world remains puzzled by the underlying dynamics of their activity.
While Liverpool have denied making contact with Newcastle, they are said to hold an interest in Isak. Contradictory reports persist—some sources claim that talks have taken place, sparking theories about strategic manoeuvring and layered negotiations. One theory suggests Liverpool’s pursuit of Hugo Ekitike, a Newcastle target, was designed to pressure the Magpies into action. However, their offer to Eintracht Frankfurt would seem to undermine that idea—they appear to be pursuing that deal seriously.
Nevertheless, sources close to the discussions claim that negotiations with Frankfurt are not progressing rapidly. The German club is said to be frustrated by the delays. This uncertain atmosphere is part of the reason why Howe’s decision to exclude Isak from the Celtic friendly has generated so much intrigue.
Then there’s Arsenal. Long seen as Isak’s most likely destination, the Gunners are actively seeking to strengthen their forward line. They have yet to secure the signing of Sporting CP’s Viktor Gyökeres and are reportedly planning a major acquisition. Mikel Arteta is known to be a fan of Isak, believing he would be an ideal fit for the team.
A late move would make sense—until you confront the hard financial realities.
At present, Arsenal do not appear to have the funds necessary to meet Newcastle’s valuation of Isak. This is a club currently negotiating over a £5 million gap in add-ons for Gyökeres. Is it realistic to think they could suddenly stretch another £70 million?
Interestingly, Arsenal do have PSR flexibility. Some observers attribute the lack of spending to a cautious approach by the ownership, who prefer the club to operate without financial risk. Critics describe it as excessive frugality, particularly when the club has an opportunity to achieve something historic. Until recently, Arsenal’s wage bill was around £60 million lower than Liverpool’s, let alone Manchester City’s.
This disparity has led to internal frustration. Arteta is known to have made a strong case for increasing the budget this summer. Some well-placed sources believe it is unlikely that the club will approve further major expenditure.
Yet this may prove pivotal—not just for short-term success, but for future potential. Arteta may need to channel Sir Alex Ferguson and urge the board to act decisively. Players like Isak, after all, do not come around often. If Liverpool were to secure him, the ramifications could be significant. Sometimes, the boldest move is the only option.
Looks Like Isak Will Be Staying Put
Back in Newcastle, club officials are likely dismayed by such speculation. Isak is still their player, and as it stands, a departure is far from guaranteed.
Still, one of Howe’s recent comments rings true: it is difficult “to give 100% clarity” on the matter.
Given current market conditions, Howe may well be correct that Isak remains at the club for the start of the season. However, by the time the transfer window closes, the situation could look very different indeed.