Newcastle United have reasserted their strong “not-for-sale” stance on Alexander Isak after Liverpool stepped up interest in the striker while being told by Eintracht Frankfurt they are almost £10m apart in valuation of Hugo Ekitike after a first bid was rejected.
They are two transfers with the potential to shape not only Newcastle’s future but also Liverpool’s.
And what happens next with Isak will surely also have a huge influence over the Premier League for years to come.
It cannot be overstated how significant the next few days and weeks are for Newcastle’s ownership and the interim transfer team – headed by Eddie Howe and his nephew Andy – whose intention this summer has been to strengthen rather than weaken a squad that needed upgrades despite securing Champions League football.
The first response from Newcastle to Liverpool has been to reassert that Isak is not for sale and £120m is nowhere close to their valuation of Isak, especially not in a transfer market where huge Premier League premiums are being applied to valuations.
Eintracht Frankfurt have rejected Newcastle’s first official bid for Hugo Ekitike (Photo: Getty)
But contact from the Reds will undoubtedly test that robust stance on Isak, as well as drawing out the intentions of a player who has never shied away from his desire to compete for the biggest prizes in world football.
As of yet there has been no formal indication to Newcastle from Isak or his representatives that he wants to leave but Liverpool are an appealing prospect and this could complicate matters.
If the intention was to unsettle Isak – or show to him that they can afford to buy him – then his reaction is crucial.
The i Paper understands that the Reds have stopped short of lodging a formal offer for Isak, partly because their understanding of the situation has always been Newcastle won’t sell.
It is worth stressing that is the message at St James’ Park from the very top, with chairman Yasir Al-Rumayyan having communicated to club chiefs that Isak should not be sold this summer.
That strong stance has been repeated in public by chief executive Darren Eales, who said selling Isak “would be crazy” back in March, and Howe himself on the multiple occasions he has been asked about the Swedish striker, who has three years left on his contract.
But those were hypotheticals. Now that Liverpool want a seat at the table it will potentially complicate planned contract talks, which are yet to start with Isak, and may force them to assess exactly what kind of transfer figure would encourage them to the table.
Because looming over all of this is Newcastle’s situation in relation to the Premier League’s financial fair play regulations, the ominous profitability and sustainability rules (PSR) that have hampered the Magpies’ progress over the last two years.
Football finance expert Rob Wilson tells The i Paper that Newcastle could “just about” afford Ekitike without sales, with a £75m deal on a five-year deal costing them £15m a year for PSR calculations moving forward.
He says any further movement in the market – and Newcastle want a centre-back and goalkeeper – would mean “departures are likely needed if they have designs on bringing in further talent in the £40-50m bracket”.
That is a huge dilemma for Newcastle. Selling Isak for nearly £150m ends their PSR worries for years to come and the arrival of Ekitike potentially softens the blow.
But, let’s be honest, it is also a sobering reminder of their place in the pecking order compared to the dream scenario of having both the France under-21 international and Isak playing in tandem.
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There are those close to the situation who suspect Newcastle’s move for Ekitike, the hugely promising 23-year-old who has excelled at Eintracht Frankfurt, has prompted Liverpool to move their interest in Isak to the next level knowing that they are in a win-win situation.
Secure Isak and they have their top target and dream scenario realised.
Miss out on him through Newcastle’s intransigence and they will move for Ekitike, blowing the Magpies out of the water on their priority deal.
For what it is worth, indications from Tyneside on Tuesday afternoon were a second bid could go in for Ekitike with some form of optimism that a deal can be done.
But Liverpool’s dramatic intervention may force the whole plan to be redrawn.