Liverpool's ambitious plans to secure the signing of Alexander Isak this summer have taken a significant hit following reports that the Newcastle United striker is set to receive a lucrative new contract to extend his stay at St. James' Park. The move could shatter the potential for a record-breaking transfer, leaving Liverpool to consider alternative options.

The Swedish forward has firmly established himself as one of the premier strikers in the world, enjoying an outstanding season with Newcastle. With 23 goals in 33 matches, Isak's contributions have been pivotal in helping the Magpies lift their first domestic trophy in 70 years, following their recent triumph over Liverpool in the Carabao Cup final. While celebrations continue in Newcastle, fans are hopeful that the trophy success will help retain key players within the squad.

Not only has Isak been prolific in front of goal, but he has also provided five assists this season, resulting in a goal contribution approximately every 93 minutes. This impressive performance has drawn the attention of several top clubs, with Arsenal known to be long-time admirers. Sources confirm that the Gunners are exploring the possibility of bringing Isak to north London.

Reports indicate that Liverpool had been preparing to make their own offer for Isak, with reliable transfer journalist Fabrizio Romano affirming the Merseyside club's interest in acquiring him for what would be a record fee. However, Newcastle is reportedly moving quickly to secure Isak's future, with transfer insider Graeme Bailey revealing plans for a hefty new contract that could see Isak become the Magpies' highest earner.

Currently earning £120,000 per week, Isak is expected to receive a contract that could see his wages substantially increased—potentially reaching upwards of £150,000 to £200,000 per week—reflecting his status as one of the world's best forwards. This new deal could pose a significant obstacle for Liverpool, as they would need to factor in not only the enormous transfer fee—projected to exceed £130 million—but also the total financial outlay to make a competitive offer.

While Liverpool is capable of matching Isak's potential wages, the overall financial commitment, including transfer fees and salary over a five-year contract, could exceed an astonishing £192 million ($249 million). Faced with these staggering costs, the Reds' ownership, Fenway Sports Group (FSG), may turn their focus to more budget-friendly alternatives.

One player emerging as a strong candidate on Liverpool's radar is Julian Alvarez. With a hefty price tag exceeding £100 million anticipated for the Argentine international, Liverpool may consider including players like Luis Diaz or Darwin Nunez—who both have attracted the interest of Atletico Madrid—as part of the deal to mitigate costs.

Liverpool's interest in Alvarez can be traced back to the Jurgen Klopp era, when he was scouted as a potential signing during his impressive tenure with River Plate.

In addition to their striker pursuits, Liverpool is also keen to strengthen their defensive options, particularly looking to secure a new left-back, though their intentions to sign Milos Kerkez could be hindered by Bournemouth's demanding asking price. With manager Arne Slot reportedly targeting the acquisition of multiple world-class players this summer, costing around €300 million ($327 million), a significant overhaul seems imminent.

Possible funding for these major signings might come from the sale of Darwin Nunez, who has found himself out of favor this season. Currently on international duty, Nunez has expressed his dissatisfaction with his situation, yet remains committed to fighting for his place within the Liverpool squad.

As the transfer window approaches, Liverpool's pursuit of Isak may be over, but a drastic reshuffle of their squad seems to be on the horizon. Fans will eagerly await to see how FSG navigates this complex transfer landscape and which high-profile names will ultimately sign on at Anfield.