JUST IN: PIF’s statement to Liverpool is about to tell us a lot about Newcastle United’s future
There have been occasions in recent years when Mikel Arteta has walked away from a clash with Newcastle United looking more frustrated than fulfilled. But on Sunday night, the Arsenal manager wore a markedly different expression—this time, a broad smile lit up his face. And it wasn’t solely because of his side’s narrow 3-2 win.
Speaking after the game, Arteta couldn’t hide his satisfaction with Arsenal’s business in the transfer market, particularly following the high-profile arrival of Viktor Gyökeres, a move that saw the Gunners’ summer spending eclipse the £200 million mark.
“We identified our targets early in the window with absolute clarity, but making those signings a reality is always the real challenge,” Arteta explained. “The club has been exceptional in executing the plan. Andrea [Berta] and his team have done an outstanding job. To get the players we wanted this early gives us a huge advantage.”
While Arteta basks in the luxury of a well-supported recruitment drive, things appear far more complicated for Eddie Howe at Newcastle United. The contrast between the two clubs could hardly be starker. Unlike Arteta, Howe has had to navigate this transfer window without a permanent sporting director after Dan Ashworth’s departure and with CEO Darren Eales serving his notice period. The lack of executive stability has contributed to a frustratingly slow summer for the Magpies.
Compounding matters is the uncertain future of Alexander Isak, Newcastle’s star striker. The Swedish international has made it clear he wants a move away, reportedly eyeing Champions League glory—something he doesn’t believe is imminent at St James’ Park. This potential exit threatens to derail what was meant to be a transformative window for a club looking to solidify its place among the Premier League’s elite.
There’s still a small window of opportunity to course-correct, with the Premier League season kicking off in just 19 days and the transfer window set to close in a little over five weeks. But Newcastle’s margin for error is shrinking. Transfer fees are continuing to rise, and the longer Newcastle delay in replacing key players—or adding necessary reinforcements—the more clubs across Europe will sense their desperation and hike up prices accordingly.
Should Isak depart, Newcastle would be faced with an uphill battle. Replacing him wouldn’t just require a like-for-like striker; it would likely mean bringing in three to four top-tier signings to cover the gaps across the squad. That’s a tall order in such a short period—especially given how difficult this window has already proven.
So far, the only senior addition to the squad has been Anthony Elanga—an exciting player, no doubt, but not nearly enough on his own to elevate the club’s prospects. The ambition has been evident in Newcastle’s pursuit of multiple high-profile targets, including Hugo Ekitike, Joao Pedro, James Trafford, Liam Delap, and Dean Huijsen. Yet despite their interest, each of those players has opted to move elsewhere, often to rival Premier League clubs with bigger wage budgets and more established European pedigrees.
Given this backdrop, the situation with Isak feels like a defining moment—one that could shape the trajectory of Newcastle’s project for years to come. The club is now at a crossroads. Do they hold firm and retain their prized asset, or do they cash in and attempt to rebuild with the proceeds?
Let’s consider the former first. The club has consistently maintained that Isak is not for sale, and it’s easy to understand why. Selling him to a domestic rival like Liverpool—especially after Newcastle’s recent Carabao Cup victory over the Reds—would not only be a tactical setback but could send a demoralising message throughout the squad. Would allowing a player like Isak to leave open the door for other stars, such as Bruno Guimarães or Sven Botman, to consider similar exits in future windows?
Even Guimarães himself acknowledged the potential loss. “He’s a top player for us,” the midfielder said. “It’s not easy to find someone who can score over 20 goals in the Premier League.”
However, the situation may already be beyond repair. Isak has shown no interest in extending his contract, and he’s currently sidelined from Newcastle’s pre-season tour of Asia with what has been described as a thigh injury. His absence—and silence—speaks volumes.
Howe, always pragmatic, understands the short shelf life of a footballer’s career. While Isak is only 25 now, he turns 26 in September and appears to be prioritising silverware and European success in the near term. As much as Howe would prefer to keep him, the manager also hinted at the need to protect the cohesion of the group.
“I would love for Isak to stay,” Howe admitted. “But it’s also vital for the group to have stability and a good feeling going into the new season.”
This spirit of unity has been a hallmark of Howe’s reign at Newcastle. That collective ethos helped deliver a long-overdue major domestic trophy and Champions League qualification in two of the last three seasons. Losing a key figure like Isak could jeopardise that momentum.
So, if Liverpool do table a substantial offer following Luis Díaz’s expected move to Bayern Munich, will Newcastle resist the temptation? Or will they view this as a rare opportunity to reinvest a significant fee—potentially upwards of £100 million—into a deeper and more balanced squad?
Ultimately, the decision will fall to the club’s ownership. Howe will surely voice his perspective, but in modern football, such moves are often above the manager’s pay grade.
“Whatever happens has to be right for Newcastle,” Howe concluded. “We’re in a strong position financially. We’re ambitious. We have a great season ahead, and we want to continue growing. The journey is still upward—we just have to make sure we’re making the right decisions at every step.”
One thing is clear: with time running out, Newcastle’s next moves could define not only this season but their long-term ambitions to become one of Europe’s true powerhouses.