Newcastle United have rejected a formal offer from Liverpool for Alexander Isak after the Premier League champions’ bid fell significantly short of their £150million valuation.

It is believed the opening offer was less than the ÂŁ120million that the Liverpool sporting director, Richard Hughes, had previously indicated the club was prepared to pay when making informal contact with Newcastle almost two weeks ago.

Newcastle’s valuation for Isak is, in any case, understood to be much higher, with the club steadfastly sticking to their £150million price tag.

The fact that Liverpool have now followed up with a firm bid demonstrates their desire to land the Sweden international and reflects the encouragement they have received from the camp of the player, who has been training at his former club Real Sociedad in Spain after withdrawing from Newcastle’s pre-season trip to Singapore and South Korea.

Isak, 25, has been pushing to move to Anfield and is not interested in signing a new contract at St James’ Park despite Newcastle’s efforts to extend his stay.

Liverpool have already spent £295million in the transfer market this summer, but their move for Isak reflects their continuing ambition to recruit the best players, having already brought in the likes of Florian Wirtz for £116million and Hugo Ekitike for £79million — both attackers.

Newcastle have previously said they do not want to sell the forward and the rejection of Liverpool’s offer shows they are not simply going to cede to a Premier League rival and the wishes of their star player, whom they signed from Sociedad for about £60million in August 2022, since when he has scored 62 goals in 109 games for the Tyneside club.

Alexander Isak of Newcastle United celebrates a goal during the Carabao Cup Final against Liverpool at Wembley Stadium.

Isak was on the scoresheet as Newcastle defeated Liverpool in last season’s Carabao Cup final

STU FORSTER/GETTY IMAGES

Eddie Howe has been keen to strengthen his forward line this summer, but Newcastle have missed out on numerous players including Liam Delap, João Pedro and Ekitike. They are interested in RB Leipzig’s Benjamin Sesko but face stiff competition from Manchester United while Yoane Wissa, who did not train with Brentford on Thursday, remains a target. Chelsea’s Nicolas Jackson and the Fulham forward Rodrigo Muniz have also been linked with Newcastle.

The struggle to bring in quality reinforcements complicates the landscape for Howe’s side, who had hoped last season’s Carabao Cup success — Isak scored the decisive goal against Liverpool at Wembley — and qualification for the Champions League via a top-five domestic finish would provide the springboard for progress.

Instead, Isak’s stance as he craves becoming the Liverpool head coach Arne Slot’s newest recruit has cast a cloud over the club’s summer.