'Oil money' Newcastle agree deal that would be Premier League's third most expensive

Newcastle United have agreed to a club-record £63 million deal to sign Swedish striker Alexander Isak from Real Sociedad, in a move that would see him the third most expensive Premier League signing this summer.

Eddie Howe's side who drew 3-3 with champions Manchester City on Sunday has been looking to bolster their attacking lineup but missed on several targets including French forward Huge Ekitike, and Watford's Joao Pedro.

Newcastle boss Howe has continued to be backed by the riches of the new Saudi owners, with Isak's deal to also include a £4.2m in potential add-ons and 10% of any future sale.

The £63m deal for the Real Sociedad striker will eclipse the £41.5 million that the Magpies paid to land Bruno Guimaraes from Lyon in the January transfer window.

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The Sweden international scored 44 goals in 132 games for Real Sociedad after he joined them from Bundesliga side Borussia Dortmund in 2019.

At St. James' Park, he will compete for playing time with Chris Wood and Callum Wilson as the senior forward options as Newcastle looks to keep their perfect start to the season intact.

The £63 million will also mean that Isak is not the third most expensive signing in the Premier League this season, surpassing the likes of Erling Haaland who joined Manchester City from Dortmund, and Marc Cucurella who joined Chelsea from Brighton.

Still leading the 10 most expensive transfers in the Premier League this summer window is Liverpool's Darwin Nunez who joined from Benfica for £67.5 million.

The second most expensive is Brazilan midfielder Casemiro who only recently joined Manchester United from Champions League winners Real Madrid, following a £63.59 million agreement.

Newcastle have five points from three games after a win against Nottingham Forest and draws against Man City and Brighton.