Alexander Isak agrees personal terms with Liverpool on five-year contract as Premier League champions prepare to submit opening transfer bid for wantaway Newcastle striker

According to Sky SportsSwitzerland, the Reds will submit their first formal bid to Newcastle after getting the green light from Isak. They are preparing a five-year contract for the Sweden international. Liverpool are planning to place an initial offer worth £100 million ($134m). While the Magpies currently value Isak at £150m ($203m), the Merseyside club are confident that they can bring down the value to £120m ($160m).

Liverpool have the financial strength to add one more star striker after securing a blockbuster transfer for Hugo Ekitike from Eintracht Frankfurt. They have money in the bank after agreeing to sell Luis Diaz to German champions Bayern Munich this summer.

Darwin Nunez could also follow in Diaz's footsteps and move out of Anfield after the Uruguayan forward attracted strong interest from Italian champions Napoli and some Saudi Pro League clubs.

Arne Slot's Reds have travelled to Japan for their pre-season tour, where they are scheduled to play another friendly against Yokohama F Marinos on Wednesday.