Isak was one of Newcastle’s initial attacking targets earlier in the window and they cooled interest in him as they were priced out of a move by his side Real Sociedad.
The Magpies eventually turned to alternative attacking options, including Watford man Pedro.
Newcastle have currently tabled a bid worth £30m for the Brazilian, having seen the Hornets knock back their opening bid.
However, it has now emerged that the Tyneside giants have gone back to Real Sociedad for Isak and have agreed on a club record fee of €70m excluding bonus payments.
Isak is set to complete a sensational move to St James’ Park imminently, thereby providing Eddie Howe with the young striker option that he has wanted all summer.
However, despite spending big on Isak, Newcastle are still trying to secure Pedro’s signature from Watford, while he is also on the transfer radar of Premier League rivals Everton.
The Tyneside giants want yet another attacking option and are still working on reaching an agreement with Watford for Pedro, while striker is also a position the Toffees are keen on bolstering in the ongoing window.
It remains to be seen where Pedro ends up playing this season with Newcastle and Everton both keen on giving him top flight football.
