Arsenal could be on red alert as 'the truth' emerges about Alexander Isak's contract situation at Newcastle.

The Daily Mail reports that Newcastle have yet to open talks with Isak over a new contract, as he has three years remaining on his current deal. There were initial discussions towards the end of last season but Isak and his representatives were said to be reluctant to commit to the north-east club.

Newcastle and Isak are said to have ceased talks altogether as the Sweden international remains one of the club's highest-earners, and there is not seen to be any need, on either side, for there to be an extension. It does raise the prospect of Arsenal making a move, with the Mail noting that they 'would likely' be in a position to sign him, particularly if Newcastle fail to qualify for the Champions League. The Magpies are currently ninth, five points behind fourth-placed Aston Villa, and the Gunners have long been linked with the ace.

Newcastle paid £63m ($82m) to sign Isak in 2022 and believe that he is worth around double that in the current market. During his time with the club, he has scored 36 goals in 74 games.

Newcastle face Chelsea twice in a row. First, they travel to Stamford Bridge to play them in the Premier League, then host them on Wednesday in the EFL Cup. As for Arsenal, a meeting with Liverpool awaits on Sunday afternoon.