What are Isak's options - and how could Liverpool afford him?

Alexander Isak has told Newcastle he wants to explore his transfer options this summer - but what are they and could Liverpool afford him? Sky Sports News' Keith Downie, Lyall Thomas and Mark McAdam answer the key questions around his future.

Why has Isak told Newcastle he wants to explore his options when Liverpool have signed Hugo Ekitike and Arsenal are close to signing Viktor Gyokeres?

Sky Sports News' Keith Downie:

Isak is frustrated that he was denied the opportunity last week when Liverpool made an informal approach. Ektike, who was essentially meant to be his replacement at Newcastle, moved to Liverpool instead. From the outside looking in, that was another door closing for Isak.

Eddie Howe said something that stuck out to me in his post-match presser on Saturday after the friendly against Celtic. He said: "I am really aware it's a short career for a footballer." That to me is something that's likely been communicated to him by Isak or his representatives.

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I think Isak feels, having been at Newcastle for three years, scoring 62 goals and helping them win the cup last year, he has done what he set out to achieve.

Isak's development has been almost faster than the club's. I'm not saying he's outgrown Newcastle, but he's in a position where he is one of the best strikers in Europe playing for a team that doesn't really have the opportunity to win the Premier League, you would suggest.

He is ambitious, wants to win trophies and feels he should be earning £250k to £300k. He's not earning that at Newcastle, and he knows the other top strikers in the Premier League are earning that money. I think he doesn't want to be denied the possibility of that earning potential.

Are Liverpool really still interested in Isak?

Sky Sports News' Mark McAdam:

The fact that Liverpool made an approach last week suggests that they were willing to pay a fee at least in the region of what Newcastle are looking for, which is around £150m. That admiration hasn't just suddenly disappeared with the signing of Hugo Ekitike.

Liverpool are happy with their strike force and their squad, but that doesn't mean their business is finished. This is a new summer for Arne Slot. It's the first time he's really attacked a transfer window since being appointed a year ago.

He's had 12 months with the players, he understands the Premier League, he's a Premier League winner already and he wants to make Liverpool even better, and that means signing the very best players they possibly can.

Isak is certainly one of, if not the best, striker in the Premier League. Whether Liverpool decide they can fit both him and Ekitike into their plans remains to be seen, but it is certainly one to watch.

Eddie Howe believed he could fit Ekitike and Isak into the same team, so why wouldn't Slot?

Can Liverpool afford to sign Isak? Would sales need to be made?

Sky Sports News' Mark McAdam:

Quite simply, Liverpool can afford to do a deal for Isak because they are very sensibly and sustainably run by owners FSG and they have been for a number of years.

I spoke with an independent football finance expert who told me Liverpool could spend £500m in this summer's transfer window and still be PSR compliant because they are so well run.

In last summer's window, they only spent £12.5m on Federico Chiesa. They also generated around £60m in player sales. That means they've got a big wedge of cash in their pocket from last summer that was unspent, and that's helping them this summer.

Their turnover was £614m in their last set of accounts. It's going to be even more next time because of the commercial success, the football success and the bonuses that are attached to a lot of those commercial packages that they've set up. Therefore, the income is going to go up too.

In terms of player sales, Liverpool have generated more than £60m already. The four players they've moved on this summer have either been academy players, who represent pure profit under PSR, or have been sold on for big profits.

Then, if you add in the likes of Luis Diaz, Darwin Nunez and Harvey Elliott, those three players alone could raise another £150m. That would also create space in the forward line, potentially.

When you take that into account, their net spend potentially starts looking quite healthy on top of being a really well-run club.

Does Isak have any other Premier League options?

Sky Sports News' Lyall Thomas:

It looks unlikely. Arsenal were perhaps the only other club that could have truly rivalled Liverpool for Isak, but they decided to pursue Viktor Gyokeres and he is now expected to join from Sporting.

Chelsea are not in the running for Isak. They've signed Joao Pedro and Liam Delap already this summer and the club have complete faith in the options at their disposal up front. They think Isak is a great player, but he is not a Chelsea target.

Manchester United are potentially looking for a striker this summer. However, the prices involved for such a deal rule them out immediately. The focus for United currently is on player sales after signing Matheus Cunha and Bryan Mbeumo.

Isak is not a player that has been under consideration at United and this latest development is not expected to change that.

Could anyone afford Isak outside of the Premier League?

Sky Sports News' Lyall Thomas:

Newcastle's asking price for Isak is £150m, which eliminates all but a handful of clubs. Only the very top sides in Europe and some in Saudi Arabia could even contemplate such a deal with the figures involved.

Barcelona and Real Madrid are the two clubs that usually come up in such conversations, but as it stands, there is no indication that either club are in for Isak. Barca are currently unable to register their new signings so it is safe to rule them out entirely.

Paris Saint-Germain certainly have the financial might, but again there is no suggestion that the Champions League winners want to pursue a move for Isak, who would be directly competing for a starting spot with Ballon d'Or favourite Ousmane Dembele in Paris.

There has been talk of Saudi Pro League interest, but that is unlikely given Isak's aspirations to challenge for top trophies in Europe.

What needs to happen for Isak to stay at Newcastle?

Sky Sports News' Keith Downie:

He needs to be content. It sounds as though he's not content at the moment, given the fact he's asked to explore other opportunities. I think it's important to say he has not handed in a transfer request, but he's asked to explore other opportunities, which suggests to me that he's unsettled and he's been affected by the approach from Liverpool last week.

Eddie Howe is a brilliant man-manager. He's going to have to rely on all his man-management experience to get Isak's head into the right place ahead of the new season if he is to stay at Newcastle.

He is still a Newcastle player, we have to remember that. And if anyone is going to buy Isak, they're going to have to pay top dollar to get him.

There was talk, and there has been for a long time, that Isak would open contract talks over a new contract at Newcastle. That hasn't materialised. I think there's a frustration there on his part that his contract hasn't been increased, that his pay hasn't gone up.

I would suggest that the club might have to come to some kind of agreement with him if he was to stay, where he got a bit of a pay rise, and perhaps there was either a release clause put in that he could leave for a certain price next summer, or a gentleman's agreement, or something to placate him a little bit.

Because without doubt, there's a frustration on his part that he feels that opportunities are passing him by.

Who could Newcastle get to replace Isak if he did leave?

Sky Sports News' Keith Downie:

I think the replacement was Hugo Ekitike. He essentially gets called mini-Isak. Very similar player, similar style, scores similar goals. Newcastle have liked him for over three years now, so that would have been the replacement.

There will be a real fear from Newcastle that not only have they missed out on Ekitike, but they could lose Isak as well. We know they're in talks with Brentford to sign Yoane Wissa, but that was to be the number two to Isak - not to spearhead their attack.

So the big question is, where would they turn next if Isak goes? Newcastle have explored a move for Benjamin Sesko at RB Leipzig. That's just in case Isak leaves and keeping him is a priority.

Sesko would be an expensive one, but Newcastle will have money to spend if Isak does go.

Remember, Newcastle already missed out on Liam Delap. They've missed out on Joao Pedro and they've missed out on Ekitike. So they're quite far down their list already.

I feel that once the dust is settled on this, Newcastle could come to some kind of agreement with Isak that should placate him a little bit going into the new season. They insist he's not for sale. If he is sold, it would be for mega money, around £150m.

Time will tell if Liverpool have got the money to spend on Isak as well as Ekitike.

What will be hugely intriguing is that Newcastle's first home game of the season is against Liverpool on Monday Night Football, live on Sky Sports. Which team is he going to playing for?