Sami Mokbel
BBC Sport Senior football correspondent on BBC 5 Live Breakfast

How much do Newcastle want for Alexander Isak?

"Isak has made it clear that he wants to move to Liverpool. Liverpool haven't met the threshold that Newcastle would consider selling. They have put £110m on the table, and that was rejected swiftly. Liverpool will have to do better if they're to sign Alexander Isak this summer."

How much of a role is the ownership in Newcastle playing in all over this?

"At the start of the summer, when I started hearing about some Newcastle players interested in moving away, I was told that, given the season that they had, if they sell one of their crown jewels this summer, what message does that send out to the football world.

"If they were to sell Alexander Isak in the next 12 months, they are acutely aware of the message that does send out."

Ask Me Anything

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Alexander Isak has not handed in a transfer request to leave Newcastle this summer, despite posting on Instagram that "change is best for everyone" on Tuesday.

One of the benefits of handing a transfer request is to inform a club of a player's desire to leave, but given Isak's recent actions, despite not handing in an official transfer request, he is keen to depart the club.

Formally handing in an official transfer request can lead to significant financial penalties for a player.

It constitutes a breach of a player's contract, meaning that a player could be no longer entitled to contractual bonuses - including signing-on fees and loyalty bonuses.

If at any point Newcastle find Isak to have breached the obligations of his contract or a relevant code of conduct, the Magpies may have grounds to fine the Swedish striker.

Next offer a minimum of £120m. Oof.

Sami Mokbel and Ciaran Kelly

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To explain this we need to look at Newcastle's transfers so far.

After a frustrating summer window, their business has started to pick up.

They signed midfielder Jacob Ramsey from Aston Villa for £40m on Sunday, after securing AC Milan defender Malick Thiaw for a reported £34.6m earlier in the week.

This added to July's £55m signing of Nottingham Forest winger Anthony Elanga and the loan signing of England goalkeeper Aaron Ramsdale early in August.

But there is one glaring omission.

None of these are strikers - and they really needed one before Isak's future was thrown into question after the departure of Callum Wilson.

Sources have told BBC Sport one reason there hasn't yet been a follow-up bid is that any move would be reliant on Newcastle getting two strikers through door.

Newcastle have maintained publicly that Isak isn't for sale, but Liverpool know they are looking for two strikers for a reason.

When - or perhaps if - Newcastle do, Liverpool are expected to ramp up their interest with another bid.

Sources say the next offer will be a minimum £120m. At the moment, though, it's a waiting game.

Leighton's final point is an interesting one. In making a stand as far as Alexander Isak is concerned, are Newcastle causing themselves a potential problem down the line when it comes to bringing players in?

Would potential new signings be put off and think another move in future may be blocked?

Sami Mokbel
BBC Sport Senior football correspondent on BBC 5 Live Breakfast

We've certainly found this summer some players trying to use every way possible to try and get their way. The Alexander Isak situation is a mess. I was sat in the PFA Awards Ceremony when he released that statement. Everyone in the room dropped everything that they were doing and looked at what they were doing. Their jaws just dropped.

It's like a final throw of the dice. It appears that Newcastle will not sell him and responded with a statement of their own last night. It's going to be a big 12 days.

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Twenty days have passed since Newcastle rejected Liverpool's £110m bid for the Sweden international, who remains in a stand-off with the club over his future.

BBC Sport understands Alexander Isak believed he would be allowed to leave Newcastle if a big club came in for him and offered the right price.

Isak has been the biggest talking point of the summer window, which closes on 1 September.

But Liverpool are yet to return with an improved offer for the 25-year-old.

Will the Reds bid again? Will he rejoin first-team training in the meantime? What happens if a deal is not completed by the 1 September deadline day?

Not so sure about throwing his career away, Tom. If he doesn't play for Newcastle again, it will surely be because he is sold - whether that is this summer, January or, at a push, next summer?

It makes no sense for Newcastle to hold onto him for the next three years, as one of their top earners, if they aren't going to use him.

It's either cash in or find a way to get him back into the fold, especially with PSR around.

Newcastle United

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Let's have a look at how this saga has played out since the end of last season...

25 May - Alexander Isak finishes 2024-25 season as Newcastle's top scorer with 27 goals in 42 appearances

19 July - Newcastle boss Eddie Howe says Isak will "absolutely" be on the club's pre-season tour of the far-east after the Swede missed a 4-0 friendly defeat by Celtic with a thigh injury

23 July - Liverpool sign striker Hugo Ekitike in £69m deal from Eintracht Frankfurt

24 July - Isak is left out of Newcastle's squad for their pre-season tour with a "minor thigh injury"

24 July - Isak expresses desire to explore move away from Newcastle

28 July - Sources tell BBC Sport that Liverpool remain keen on signing Isak, despite the arrival of Ekitike

29 July - Howe says Newcastle are yet to receive any offers for Isak

31 July - Isak trains alone at former club Real Sociedad

1 August - Newcastle reject Liverpool's opening £110m offer for the Sweden international and the Reds may not continue their interest

2 August - Howe says he "really doesn't know what is going to happen next" and describes the situation as "far from ideal"

4 August - Isak returns to Newcastle training ground but has been told to train away from the first-team squad

8 August - Howe says it is "clear" he 'can't involve' Isak at Newcastle as things stand

16 August - Isak not part of matchday squad as Newcastle held at Aston Villa in Premier League opener

19 August - Isak says promises have been "broken" by Newcastle and "the relationship can't continue" while club says "no commitment has ever been made" to Isak

So what happens next, folks?

We want to hear from you on the Alexander Isak situation.

Has it reached the point of no return? Would Newcastle be best off getting the best fee they can for Isak and reinvesting it in the squad, be that this summer, January or next year?

Or do you think he can still be brought back into the fold to play a part this season?

How would holding onto Isak when he wants out affect moves for other players in future, positively and negatively?

As for Liverpool, when do they make their next move? Should they hold out for Isak or do they need to be looking at alternatives should Newcastle stand firm? Who would you be targeting instead?

Or put simply: Alexander Isak, talk to me...

So there you have it. Fairly strong stuff from both sides!

Alexander Isak has broken his silence on the issue, publicly at least, while the Newcastle response is also interesting.

As firm as the statement is, there is no "categorically not for sale" or such like, as has been the line throughout the summer.

In fact, mention of "the conditions of a sale" suggests that they would be open to letting Isak go if their conditions are met.

What those conditions are exactly, we don't know for sure. A new striker (or two) and the right fee?

With a little under two weeks left in the window, we might yet find out...

Image source, Getty Images

Newcastle responded swiftly with a statement of their own...

We are disappointed to have been alerted to a social media post by Alexander Isak this evening.

We are clear in response that Alex remains under contract and that no commitment has ever been made by a club official that Alex can leave Newcastle United this summer.

We want to keep our best players, but we also understand players have their own wishes and we listen to their views.

As explained to Alex and his representatives, we must always take into consideration the best interests of Newcastle United, the team and our supporters in all decisions and we have been clear that the conditions of a sale this summer have not transpired.

We do not foresee those conditions being met.

This is a proud football club with proud traditions and we strive to retain our family feel. Alex remains part of our family and will be welcomed back when he is ready to rejoin his teammates.

Image source, Getty Images

Alexander Isak released a statement on social media after he was named in the PFA Premier League team of the season for 2024-25.

After saying how proud he was to have made the XI and thanking his team-mates and "everyone at Newcastle United" for their support, here is what he wrote...

"I'm not at the ceremony tonight. With everything going on, it didn't feel right to be there.

"I've kept quiet for a long time while others have spoken.

"That silence has allowed people to push their own version of events, even though they know it doesn't reflect what was really said and agreed behind closed doors.

"The reality is that promises were made and the club has known my position for a long time. To now act as if these issues are only emerging is misleading.

"When promises are broken and trust is lost, the relationship can't continue. That's where things are for me right now - and why change is in the best interests of everyone, not just myself."

Right then, let's get straight to it...

Well, well, well.

Just when it seemed the biggest transfer saga of the summer had gone a bit quiet and might be fizzling out.

Turns out all it needed was one statement from the man at the heart of it and it has exploded back into life.

Yes, morning folks, we've got another day of transfer chat ahead of us, we'll also be hearing from Oliver Glasner ahead of Crystal Palace's Conference League qualifier tomorrow.

But there's only one place to start and that's with the man of the moment, Alexander Isak.