Sky Sports journalist Keith Downie has shared news live from outside St James’ Park on Friday afternoon after Liverpool’s opening bid for Alexander Isak was rejected.

David Ornstein revealed earlier on Friday that the Magpies were swift to refuse the Reds’ first official offer for the Swedish superstar, which is believed to be in the region on £110m-£120m.

There are rumours Isak has already agreed personal terms on a move to Anfield, and Downie, speaking live on Sky Sports, has now revealed the next steps.

Second Liverpool bid being prepared "as we speak"

“We expect Liverpool to come back in with a second formal offer, they’re preparing that formal offer as we speak. But Newcastle standing firm, rejecting the first one,” said the North East based journalist.

He continued: “This could be the biggest transfer of the summer. It would be a Premier League record if Liverpool were to get their man.”

There has of course been plenty of conversations around how the Swede would fit with Hugo Ekitike, who arrived from Eintracht Frankfurt in a deal worth £79m if add-ons are met.

BBC tactics writer Alex Keble has suggested using Isak as the out and out number nine, with the Frenchman deployed from the left.

One thing is for sure, Isak would bring the guaranteed clinical finisher Liverpool thought they were buying with Darwin Nunez three summers ago.

The Uruguay international, who is expected to depart this summer if Isak joins, scored five Premier League goals last season from 5.8 expected based on the quality of his chances. Newcastle’s star man on the other hand managed 23 strikes from an expected goals of 20.3, and he has now out-performed his xG in all three of his seasons in England.

Isak is thought to be training alone in Spain in a bid to be ready for his big switch, with Newcastle captain Kieran Trippier commenting on the situation earlier this week: “Alex has got a thigh injury – that is the reality.

“Personally, I think there is no point him coming out here if he can’t play in any games.

“He is doing rehab. But we have to do what we have to do with the players we have got, Sean Neave came on and done very well, young kid who has done well.

“We have tough games coming, but we stick together now as a team, and hopefully Alex will come back when he is fully fit.”