7 Clubs That Could Afford Alexander Isak’s £250 Million Price Tag

Alexander Isak may be open to leaving Newcastle United — but actually buying him is another matter entirely. 

With Newcastle hoping to command a starting price of £150 million (roughly £250 million when factoring in agent fees, transfer levies, and wages over a five-year deal), only a select few clubs could dream of pulling off this blockbuster transfer.

Here are the seven clubs that could realistically afford Isak’s mammoth price tag — on paper at least:

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Financial Power: ★★★★★

Likelihood: ★★★★☆

With Kylian Mbappe gone and revenue from the Champions League and Club World Cup flowing in, PSG remain one of the few clubs where finances are never a major obstacle. They’re in UEFA’s settlement regime, which slightly restricts spending, but a sale like Randal Kolo Muani could easily clear both squad and financial space. If they want him, they can get him.

Financial Power: ★★★★★

Likelihood: ★★★☆☆

Madrid just announced €1.2 billion in revenue and were profitable even after onboarding Mbappe’s wages. The Galacticos have already spent close to £150m this summer, making another huge outlay unlikely — but never impossible. They can afford Isak, but their attention may be elsewhere for now.

Financial Power: ★★★★☆

Likelihood: ★★☆☆☆

The Bundesliga giants are one of the most financially stable clubs in Europe, having posted £135 million in profit over the past five years. They’re actively in the market — chasing Liverpool’s Luis Diaz — but if that fails, they have the headroom to pivot to Isak. However, prioritization may keep him out of reach for now.

Financial Power: ★★★★★

Likelihood: ★★★☆☆

Man City have the money, the PSR headroom, and the winning formula. With over £200 million in profit across the past three seasons, Isak is within their budget. But football reasons — namely squad fit and style — could prove more limiting than money. They’re capable, but may not be willing.

Financial Power: ★★★★☆

Likelihood: ★★★★☆

Despite spending over £300 million already this summer, Liverpool’s careful financial management has left them in a surprisingly strong position. A sale or two — Diaz, Nunez, Elliott — could make room for Isak both financially and tactically. Among Premier League clubs, they might be the most likely to make a serious move.

Financial Power: ★★★★☆

Likelihood: ★★☆☆☆

Chelsea have the PSR headroom and cash, thanks to significant owner investment. But they're under UEFA’s settlement regime and already managing a bloated squad and wage bill. Isak would test the limits of both policy and logic, though nothing can ever be fully ruled out at Stamford Bridge.

Financial Power: ★★★★★★★ (yes, that’s one extra star)

Likelihood: ★★★☆☆

Owned by the same Saudi Public Investment Fund (PIF) that controls Newcastle, Al Hilal have limitless financial power. Since 2023, they’ve spent over £400 million on transfers and boast a wage bill few can rival. A move here would be straightforward financially — but tricky in terms of UEFA and Premier League regulations, which limit profits from intra-group sales. Newcastle would get the cash, but not the PSR relief they want.

Arsenal – Could afford it on paper, but signing Viktor Gyokeres means priorities lie elsewhere.

Manchester United – Still burdened with high debt and cash constraints despite high revenue.

Napoli – Strong financial position by Serie A standards, but still a stretch for a £250m commitment.

Final Word: Only a handful of clubs around the world can both pay and justify the astronomical cost of signing Alexander Isak. And even for them, it's less about ability — and more about priority. Isak’s talent is undeniable, but at £250 million, even football's elite have to think twice.