Isak, 25, is currently on strike at St James’ Park as he hopes to push through a move to Premier League champions Liverpool.
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Newcastle are now preparing for life without their star striker having missed out on a number of targets so far this summer.
According to The Athletic, Eddie Howe’s side are interested in signing Wolves striker Strand Larsen, 25, as a potential replacement for Isak.
Strand Larsen only joined Wolves permanently from Celta Vigo this summer having had a productive loan spell in 2024-25 that saw him score 14 goals.