According to reporter Romano, Liverpool plans to offer Isaac again.
Romano wrote on his personal social media: Liverpool has started formal negotiations with Newcastle on Isak and has issued a offer. According to The Athletic, Newcastle refused. But Isaac has made it clear that he wants to join Liverpool and he has not negotiated on the renewal. Liverpool plans to offer again.
TA's report said that Liverpool had previously had informal contact with Newcastle and expressed interest in reaching a deal for about £120 million, but Liverpool's official offer has been rejected.