Liverpool identify four players they could include in a deal to sign Isak

The transfer saga surrounding Alexander Isak has entered a fascinating new phase as Liverpool consider offering player exchanges to facilitate a deal for Newcastle’s prized striker.

Reports indicate the Merseyside club has identified four first-team players—Darwin Núñez, Harvey Elliott, Federico Chiesa, and Tyler Morton—as potential makeweights in negotiations, aiming to lower the cash component of what would still be a British record transfer.

This strategic pivot comes after Newcastle’s firm rejection of Liverpool’s initial cash bid last Friday, believed to be significantly below the €150 million valuation placed on the Swedish international.

While Isak has reportedly agreed personal terms with Liverpool, the Magpies show no inclination to sell unless their astronomical asking price is met. The impasse has forced Liverpool’s recruitment team to explore alternative transaction structures that might appeal to Newcastle’s hierarchy.

Among the potential swap candidates, Harvey Elliott emerges as the most logical inclusion from Newcastle’s perspective.

The 21-year-old attacking midfielder fits the profile of player Eddie Howe typically favors—technically gifted, versatile, and with room for development.

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INNSBRUCK, AUSTRIA – JULY 14: Alexander Isak of Newcastle United attends the training session within the preparations for the new season in Seefeld village of Innsbruck, Tyrol, Austria on July 14, 2025. (Photo by Mehmet Futsi/Anadolu via Getty Images)

Liverpool’s valuation of Elliott at approximately £40-50 million could theoretically reduce Isak’s price tag to a more palatable €100-110 million range, though negotiations would undoubtedly prove complex.

Darwin Núñez presents a more complicated proposition. While Liverpool appear willing to part with the Uruguayan striker, Newcastle’s pursuit of Benjamin Šeško as a direct Isak replacement suggests limited interest in another center-forward project.

Núñez’s inconsistent finishing and hefty wages would represent a gamble for a club seeking reliable goal production. The remaining two names on Liverpool’s list Chiesa and Morton hold even less appeal for Newcastle given their current squad needs and the Italian winger’s injury history.

This potential player-plus-cash arrangement reveals several key insights about both clubs’ transfer strategies.

Liverpool, while financially capable of meeting Newcastle’s demands outright, appear reluctant to shatter their wage structure for a single player. By offering squad members in exchange, they could mitigate both the upfront financial outlay and the need for additional signings in those positions.

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For Newcastle, the dilemma centers on whether any of Liverpool’s offered players genuinely improve their squad while still generating sufficient funds to secure top-tier replacements.

The situation grows more intricate when examining the broader context. Newcastle’s parallel negotiations for Šeško could collapse if RB Leipzig insists on an unpalatable sell-on clause, increasing pressure to retain Isak.

Conversely, Liverpool’s willingness to include Elliott signals their recognition that the young Englishman may struggle for regular minutes in their revamped midfield.

Both clubs find themselves engaged in a high-stakes game of transfer poker where the outcome will significantly impact their respective seasons.

Industry insiders suggest Liverpool may need to improve their cash offer regardless of any player exchanges.

Newcastle’s Saudi-backed ownership has no financial imperative to sell, and their public stance maintains that Isak remains integral to their Champions League ambitions.

The striker’s recent decision to train separately in Spain rather than join Newcastle’s pre-season tour indicates his desire for the move, but the Magpies hold all contractual leverage with three years remaining on his deal.

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As the standoff continues, several scenarios could unfold. Liverpool might increase their cash offer while including one player, likely Elliott, to bridge the valuation gap.

Alternatively, they could abandon Isak altogether if Newcastle’s demands prove immovable, pivoting to alternative targets like Victor Osimhen or Lautaro Martínez.

For Newcastle, the optimal outcome involves either retaining their star striker or receiving such an overwhelming package that it funds multiple high-quality reinforcements.

One certainty emerges from this increasingly complex negotiation: the coming days will prove pivotal for both clubs’ summer plans.

Liverpool’s creative approach demonstrates their determination to land a marquee striker, while Newcastle’s resolve will reveal much about their ambition level under the current ownership.

As the transfer window’s final weeks approach, the Isak saga promises more twists before reaching its conclusion.