Liverpool had struck Newcastle swap deal as Alexander Isak situation makes return likely

Liverpool and Newcastle United may engage in another transfer battle this summer, mirroring last year's situation where they nearly completed significant deals. In 2023, Liverpool reportedly agreed a £75 million deal for Newcastle's Anthony Gordon, while Newcastle offered £45 million for Liverpool defender Joe Gomez. Although structured separately for PSR compliance, the deals progressed far enough for Gordon to undergo a medical before collapsing, leaving both players at their original clubs.

This summer, similar mutual interest exists. Liverpool are targeting Newcastle striker Alexander Isak as manager Arne Slot seeks to strengthen his attack. Meanwhile, Newcastle are rumoured to be interested in Liverpool midfielder Harvey Elliott, who is reportedly considering leaving Anfield due to limited playing time under Slot.

Any potential move for Isak would likely cost over £150 million, exceeding the fee Liverpool were willing to pay for Gordon last summer. However, given the clubs' previous willingness to negotiate, talks could resume. Newcastle's Profit and Sustainability Rules (PSR) situation, which has previously constrained them and even forced former co-owner Amanda Staveley to sell her shares to avoid breaches, may influence their transfer plans.