Liverpool and Newcastle United could be set for another transfer tussle this summer, mirroring last year's events.
Twelve months ago, both clubs were reportedly on the brink of agreeing a deal that would have seen two high-profile players switch sides.
The Daily Mail suggested that Anthony Gordon had caught Liverpool's eye, with a £75million ($101.2 million) agreement with Newcastle said to be in place.
On the other hand, Newcastle was reportedly willing to part with £45M ($60.75M) to secure the services of Joe Gomez, who was out of favor at Anfield.
Although the deals wouldn't have officially been recorded as a player plus cash swap for PSR purposes, it's believed they were nearly finalized, with Gordon even considering a medical. However, the deals fell through, resulting in Gordon remaining at Newcastle and Gomez staying put at Liverpool, where he earned his second league winner's medal.
This summer, a similar scenario could unfold, given the mutual interest Liverpool and Newcastle have in each other's squads. Liverpool is reportedly setting their sights on Alexander Isak, as Arne Slot aims to bolster his attacking line-up.
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Harvey Elliott is expected to leave Liverpool this summer (Image: Getty)
Conversely, Newcastle is rumored to be keen on unsettled star Harvey Elliott, who impressed during England's recent under-21 Euros campaign. The former Fulham prodigy is expected to leave Anfield ahead of the new season, having struggled for game time under new manager Slot.
Any potential deal for Isak is expected to be pricier than what Liverpool might have paid for Gordon last summer, especially since Newcastle reportedly place the striker's value above £150M ($202.5M). However, considering that both clubs were open to negotiations last summer, who's to say they won't rekindle talks in the upcoming weeks and months.
Newcastle's PSR situation could play a role in any plans, as the North East club has previously been constrained by these regulations. So much so that former co-owner Amanda Staveley had to divest all her shares in the club to prevent any PSR-related sanctions.
She explained to The Athletic: "I knew what was coming in terms of me leaving, but the fans and PIF deserved every focus of mine. Had I left before (the PSR deadline) and we'd breached, then that would have been bad. It was very, very difficult, but I was determined to make sure [Newcastle CEO] Darren [Eales] has a clear runway."