PSR and the numbers behind £80m transfer move as Newcastle United assess options

Nine days out from Newcastle United’s Premier League curtain-raiser for the 2025/26 campaign and the club finds itself unsure of who will be the leading man in attack.

Alexander Isak, the Magpies’ talismanic Swedish forward, has been the subject of interest from rivals Liverpool, with the club having rejected their initial £110m plus add-ons for the 25-year-old striker last week. The anticipation is that the Premier League champions will return.

Newcastle boss Eddie Howe has been candid about what Isak must do to reintegrate himself after reporting for training having been absent from the Asia pre-season tour and been training alone at former club Real Sociedad.

Eddie Howe's Alexander Isak transfer plea shows how rival became 'dressing  room burden' | Chronicle Live

Isak and his representatives are still understood to be agitating for a move, but if Newcastle do not feel appropriately compensated for one of the world’s best strikers right now then they are under no obligation to just cut a deal at less than they think he is worth.

The move for RB Leipzig forward Benjamin Sesko ended up in frustrating failure for the Magpies, with Manchester United being the destination of choice for the in-demand 22-year-old Slovenian front man, one of the most prodigious young talents in Europe right now.

Newcastle know that the clock is ticking in order to try and get in an elite player with a high ceiling for growth so that they can not leave themselves short on quality when the season begins on August 16 away to Aston Villa. With Isak yet to be integrated into training again it remains to be seen whether he is the player entrusted with the task of leading the line against Villa.

After missing out on Sesko despite two bids to Leipzig and what was reported as encouragement from the player’s camp, Newcastle have now pivoted to other targets, with Chelsea forward Nicolas Jackson a reported target.

Chelsea are open to a sale, with the summer additions of Joao Pedro and Liam Delap for a £90m outlay creating some doubt over the long-term future of the Senegalese at Stamford Bridge. But Chelsea, who have no need to sell in order to meet any PSR restrictions, with the hefty profit in 2023/24 from selling the women’s team to themselves for near £200m effectively ending their PSR concerns, are in a position of strength.

Chelsea will know that Newcastle may already be approaching any Jackson deal with the mindset that they could be spending Isak money, although Liverpool’s stance has been one of the offer remaining on the table but not increased. That stance, privately, is likely to be open to some movement. Chelsea will also likely think they have a more desperate buyer that who would be willing to pay more to get a deal done.

Newcastle don’t have more in the queue for Isak. The reason being is that there are a handful of teams in European football that can afford to sign him, and with others such as Manchester City and Real Madrid not at the table for his services, the Magpies run the risk of losing value on him next summer, with Liverpool unlikely to return.

A project in Saudi Arabia has seemingly been rejected by the Isak camp from the outset, and with the player keen on the Liverpool move, Newcastle’s next moves for for a forward player, if it is to be Jackson, will have a knock-on effect for what happens for the Swedish international, who will want to be playing and performing during a World Cup year, especially given his compatriot Viktor Gyokeres has made his own big summer move with a higher profile.

But what would the situation around profit and sustainability rules (PSR) look like for Newcastle in the event of a Jackson signing and an Isak exit?

Reports have claimed Chelsea want as much as £80m for Jackson. That seems on the high side, but with the market having seen players unproven in England such as Hugo Ekitike arrive at Liverpool for a deal worth up to £80m, they will have some confidence in that stance.

A guaranteed fee of around £70m may make more sense. Assuming that guaranteed sum for Jackson, and £120m guaranteed for Isak, none of them including potential add-ons, then Newcastle would have plenty of headroom to address other areas in the squad for a campaign in the Champions League where quality squad depth is key to fight on both domestic and international fronts.

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