Could Nunez Sale Fund Isak Transfer To Liverpool?

Liverpool forward Darwin Nunez is being lined up for a possible exit to Saudi Arabia, with Al-Hilal showing strong interest in the 26-year-old Uruguay international, BBC Sport reports.

Talks have taken place this summer through intermediaries aiming to negotiate a switch to the Saudi Pro League, where Al-Hilal—run by the Saudi Public Investment Fund (PIF) and managed by Simone Inzaghi—has been a keen observer.

Should a deal for Nunez go through, it could free up funds for Liverpool’s pursuit of Newcastle United striker Alexander Isak, another player linked to a club within the PIF portfolio. Newcastle, like Al-Hilal, is majority-owned (80%) by the Saudi fund.

Liverpool recently had a £110m offer rejected for Isak. The Magpies reportedly value the Swedish forward closer to £150m.

Charlotte Robson, a Newcastle fan and contributor to True Faith fanzine, voiced concern over PIF’s internal dealings: “It makes me think about what the priority is for PIF. More and more discontent has been felt in the fanbase lately over where Newcastle sit on PIF’s list of priorities, and allowing another of their clubs to benefit at the potential expense of us feels even more like we are being overlooked.”

Robson added: “Perhaps it’s their clever way of getting money into NUFC, but I think most fans would say we’d rather an improved contract was given to Isak, the dust of the summer settles, and he stays with us a little while longer.”

Financially, however, Liverpool appear well-positioned regardless of whether Nunez departs.

Football finance analyst Kieran Maguire told BBC Sport that the Merseyside club are capable of spending significantly more while still staying within Premier League profit and sustainability rules.

“Although they’ve been very active in the transfer window, if they really wanted to, they could have spent another £200-250m, and still would have been within the PSR limits,” he said.

Liverpool have brought in six players this window, including Florian Wirtz and Jeremie Frimpong, for a combined fee approaching £265m. Outgoings—featuring the sales of Luis Diaz, Jarell Quansah, Caoimhin Kelleher and Trent Alexander-Arnold—have offset that with roughly £115m raised.

Maguire dismissed the idea of coordinated strategy between PIF-owned clubs: “I think people are joining the dots and perhaps making two plus two equals five… As far as Al-Hilal are concerned, there are plenty of strikers that they could have bought. It just so happens that Nunez is effectively available, and therefore they decided to pursue that.”

As for Isak, his future remains unsettled. The Sweden international joined Newcastle from Real Sociedad for £60m in 2022 and finished last season as the club’s leading scorer, helping deliver the Carabao Cup and a first domestic trophy in 70 years.

But after expressing a desire to move on in July, he missed Newcastle’s Asia pre-season tour due to what was described as a minor thigh issue. Last week he was spotted training alone at former club Real Sociedad, though sources indicate he rejoined training on Tyneside on Monday.

Newcastle manager Eddie Howe said Isak should “earn the right” to rejoin full training, and confirmed he hadn’t spoken to the striker since Liverpool’s approach. Speaking before flying back from South Korea, Howe also noted that Liverpool had not followed up on their rejected bid.