Who can afford Alexander Isak? Liverpool and Al-Hilal leading race for Newcastle striker | OneFootball

Newcastle said to be demanding fee of around £150million

Alexander Isak’s future is set to be the story that dominates the final five weeks of the summer transfer window.

The Magpies are said to be holding out for at least £150million, which would make Isak the third-most expensive signing in history, behind only Neymar and Kylian Mbappe.

The likes of Arsenal, Liverpool and Chelsea have already moved for other striker targets this summer, but what clubs could afford to make a move for Isak?

Standard Sport takes a look at the potential options...

Liverpool

Liverpool are reportedly in pole position to sign Isak, retaining their interest in the striker despite already bringing in Hugo Ekitike.

That move for the Frenchman took the club’s spending to close to £300m this summer, but they could still afford to make a big-money move for Isak.

The Reds have spent very little in recent windows, giving them significant breathing room when it comes to ensuring they do not breach the Premier League's profit and sustainability rules (PSR). Clubs are limited to loses of £105m over three years.

Liverpool’s revenues have been boosted by a number of factors, including winning the Premier League and a new kit deal with Adidas.

With the club also open to selling the likes of Luis Diaz, Darwin Nunez and Harvey Elliott, Liverpool are in a position to submit a huge offer to test Newcastle’s resolve.

Hugo Ekitike is among Liverpool’s big-money signings this summer

Liverpool FC via Getty Images

PSG

Unsurprisingly, PSG are among the few clubs who could afford both the fee and wages required to sign Isak.

Income has been boosted by winning the Champions League and then a strong Club World Cup campaign, while Kylian Mbappe’s exit to Real Madrid last summer freed up room on the wage bill.

PSG agreed a settlement with UEFA in 2022 over sustainability regulations and that runs until the end of the 2025-26 season, which could provide limitations on the club’s spending power.

However, it is expected that if PSG decided they wanted to sign Isak, they could make it work financially.

Real Madrid

Per The Athletic, Real Madrid registered revenues of £1.0bn for the 2024-25 season, as well as a £20m profit.

That was despite taking on the big wages of Kylian Mbappe and shows the club are in a strong financial position, certainly compared to rivals Barcelona.

Dean Huijsen and Alvaro Carreras have been signed this summer, while Trent Alexander-Arnold is on a significant salary after arriving on a free transfer.

It makes a move for Isak is unlikely, particularly with Xabi Alonso already having attacking options including Kylian Mbappe, Vinicius Jr and Rodrygo.

Middle East Images/AFP via Getty

Manchester City

Man City have been incredibly active in recent windows, bringing in the likes of Omar Marmoush and Nico Gonzalez in January and they have backed that up this summer.

More than £100m has been spent in the current window, with Rayan Ait-Nouri, Rayan Cherki and Tijjani Reijnders among those signed.

However, City have made over £200m in sales in recent seasons. Cole Palmer, Raheem Sterling and Julian Alvaraz have been sold for big fees to give the club flexibility in the transfer market.

That all means City have the ability to fund a move for Isak, but they are unlikely to do so with Erling Haaland’s remarkable contract committing his future through to 2034.

Al-Hilal

Liverpool’s main competition for Isak could come from Saudi Arabia.

The Times report that Al-Hilal are prepared to offer the striker a contract with around £500,000-a-week, and the huge fee demanded by Newcastle would not be a problem either.

The Saudi club are owned, like Newcastle, by the same Public Investment Fund of Saudi Arabia.

It has been suggested that Isak would prefer to continue playing at the top level rather than joining a Saudi club, but Newcastle would likely be keen to sell abroad.

That is despite the fact UEFA rules on transfers between related parties mean that Newcastle would not be able to register any profit on the sale when it comes to complying with European sustainability rules.