Newcastle United striker Alexander Isak(Image: Serena Taylor/Newcastle United via Getty Images)

It wasn’t that long ago Liverpool were on the receiving end of Newcastle United’s desire to show their ambition as a major force in the Premier League. Now the Reds once again find themselves having to negotiate such aspirations as the prospect of Alexander Isak moving to Anfield becomes a tantalisingly real proposition.

Back in March, it was Isak whose well-taken goal ultimately ensured Newcastle beat Liverpool in the League Cup final to earn the Magpies their first domestic trophy in 70 years.

Liverpool’s admiration of the player, though, stretches back long before then with head coach Arne Slot and sporting director Richard Hughes having embarked on a long-term plan to overhaul their forward line and future-proof the latest Anfield evolution.

READ MORE: Alexander Isak asks to leave Newcastle as Liverpool consider stunning transferREAD MORE: Hugo Ekitike next steps as striker joins Liverpool squad after £79m transfer

That continued on Wednesday with the purchase of Hugo Ekitike in an initial £69million deal from Eintracht Frankfurt, the France under-21 international meeting up with his new team-mates in Hong Kong on Thursday.

But at almost the same time, it emerged Isak wasn’t on the plane that jetted out for Newcastle’s own tour of the Far East. A minor thigh injury, which saw him miss out at the weekend against Celtic, was declared the reason.

Barely three hours later, though, came the news the Sweden international had made it clear to the Newcastle hierarchy he was contemplating a move away from the club. If stopping short of an official transfer request, it was an obvious indicator one could be forthcoming.

Players don’t do that unless they are aware of concrete interest from elsewhere. And the direction of traffic appears to be moving in only one way.

Liverpool would happily sign Isak. They are willing to commit the funds, with a package of around £130m having previously been mooted. And, evidently, Isak wants to come, with reports from those close to the forward suggesting he isn’t keen on a move to Saudi Arabia at this stage of his career despite the promise of a salary with which the Reds and Newcastle simply cannot compete.

The one sticking point, of course, is Newcastle themselves, who are under no obligation to sell and have been steadfast in such a stance.

Rightly so. Why shouldn’t they want to keep their best player, especially when the chief interested party are a club they view as one to whom they want to become direct rivals in the coming years?

Indeed, if Newcastle manage to ride out the remaining five weeks of the transfer window and keep hold of Isak, it will be seen as a major victory for the Magpies.

Liverpool know better than most it can be done. Back in 2013, they rejected an offer of £40m plus £1 from Arsenal for Luis Suarez – prompting Reds owner John Henry to tweet: “What do you think they’re smoking over there at Emirates?” – and, after Suarez had trained away from the first team for a spell, he delivered an outstanding season before joining Barcelona for £65m.

Phillipe Coutinho wasn’t allowed to leave in the summer of 2017 with Liverpool eventually selling the Brazilian the following January, again to Barcelona, in a whopping £142m deal.

And the Reds have more recently shown other signs of their ambition to retain a squad capable of challenging for silverware, rejecting a bid of £150m from the Saudi Pro League for Mohamed Salah two years ago and then in January dismissing offers for Darwin Nunez and Trent Alexander-Arnold so the pair could help Liverpool to a record-equalling 20th championship.

An issue, though, is Isak’s contract. While still with three years to run on his present agreement, Newcastle indicated months ago the 25-year-old would be offered an improved deal. None has thus far been negotiated, with fears it could prompt many of his team-mates to ask for improved terms and threaten the club navigating the Premier League’s Profit and Sustainability Rules.

And that there are suggestions Newcastle are already exploring possible replacements for Isak indicates they are already compelled to take a realistic view on the matter. Nobody wants to keep a player who doesn’t to be there.

Liverpool’s swoop for Ekitike – prompted by Newcastle’s failed attempt for the player, no less – could understandably have been seen as the end of the pursuit of Isak. Why spend £69m on a striker for a team that usually plays with only one centre forward if you’re intending to splash out double that on a player in the same position?

The Reds, though, view Ekitike as a versatile forward, just as comfortable playing out wide or, intriguingly, as a second striker. Slot will embrace rotation more readily this season, and there would no doubt be room for both Ekitike and Isak on occasion.

There will be understandable debate over quite how Liverpool can afford to commit £130m on a player when they’ve already splashed out almost £300m this summer with a new centre-back also likely to be recruited.

But the Reds’ prudency in recent years – they brought in just one signing for immediate squad use during the last three transfer windows – and careful transfer planning is now coming to fruition.

Even if the Giorgi Mamardashvili deal is included in the tally, Liverpool made a profit in the transfer window last summer and have brought in almost £65m this time around. And that’s before the potential sales of big-money assets Luis Diaz, Darwin Nunez and Harvey Elliott are taken into consideration.

Another question is the timing. Might it be now or never for Liverpool, given the Fenway Sports Group transfer model and the fact Isak turns 26 in September? The pursuit of Virgil van Dijk eight years ago indicates the Reds have been willing to wait until January to snare a big-money target, but longer the powder is kept dry the more likely sights will be trained elsewhere.

Whatever happens, Liverpool’s trip to Newcastle on the second weekend of the Premier League season next month has now taken on even greater significance. The cat is now very much out of the bag. Your move, Newcastle.