Liverpool have had a £110m bid for Alexander Isak rejected by Newcastle United and do not intend to submit a second offer for the striker in this transfer window, sources have confirmed.
The Merseyside club's first formal offer fell short of the £120m suggested when sporting director Richard Hughes made an informal enquiry a fortnight ago. Newcastle value the Sweden international at £150m, a British transfer record, but are reluctant to sell the 25-year-old, who was the Premier League's second-highest scorer last season.
Given the swift rejection, Liverpool consider a second bid futile before the window closes on 1 September, though their offer remains on the table. Isak, who has three years left on his contract, has expressed a desire to move to Anfield and has been training at former club Real Sociedad this week.
Newcastle have maintained Isak is not for sale but are under Financial Fair Play pressure and have been attempting to sign other top strikers this summer without success. Eddie Howe and his nephew Andy Howe are overseeing recruitment after Paul Mitchell stepped down as sporting director.
