Newcastle had already agreed a deal to sign Osasuna winger Victor Munoz, only for Liverpool to hijack a move to leave the northeast club baffled by their failure.
Munoz is set to join Liverpool after a £34.5 million release clause was triggered in his contract at Osasuna.
The 22-year-old has already completed his medical while with the Spain squad in the USA and agreed a six-year contract.
This Is Anfield understands that Liverpool have beaten Newcastle to a deal for a player also tracked by Man United, Bayer Leverkusen, Barcelona and Real Madrid.
While the move has come as a surprise to most it had been in the works for a long period, with new head coach Andoni Iraola flagging him in early squad planning meetings.
Why Newcastle were left frustrated by Victor Munoz
Victor Munoz of Spain during the friendly match between Spain and Egypt played at RCDE Stadium on March 31, 2026 in Barcelona, Spain. (Photo by Sergio Ruiz/PRESSINPHOTO)
Player Profile: Victor Munoz
Full Name: Victor Munoz VillanuevaAge: 22 (July 13, 2003)Height: 5’8″ (173cm)Birthplace: Barcelona, Spain
Club: OsasunaPosition: Winger (Left)Foot: RightRelease Clause: €40m (£34.6m)
But Sky Sports‘ Keith Downie reports that Newcastle believed they had Munoz signing wrapped up before Liverpool met the winger’s release clause.
Newcastle had already negotiated a deal worth £33.3 million, as well as agreeing terms with both the player and his agent, with the Spaniard informing the Magpies of his desire to join.
However, Munoz’s camp then asked for the process to stall for 24 hours as Newcastle awaited clearance to conduct a medical.
Liverpool’s deal then accelerated with the move finalised throughout Wednesday as club staff travelled to Atlanta to complete the signing.
The situation has left Newcastle “trying to get to the bottom of what happened in the last 24 hours” and frustrated over losing another key target to Anfield.
They had after all believed they were close to landing a deal for Hugo Ekitike last summer only for the striker to accept a late £79 million move to Liverpool instead.
Alexander Isak also forced through a British record switch to Merseyside in the same transfer window, to the disappointment of those at St James’ Park.
Eddie Howe (left) says the decision whether to fine Alexander Isak lies with others at Newcastle (John Walton/PA)
Munoz would likely have arrived as a replacement from Anthony Gordon, who joined Barcelona earlier this summer in a deal worth up to £69.3 million.
Instead Newcastle are left to scramble for another option, albeit with considerably more time than they did last year when they brought in Nick Woltemade and Yoane Wissa.
Woltemade and Wissa – replacement for Isak and alternative to Ekitike respectively – were brought in for a combined £124 million but ended the season with just 14 goals between them.