Chelsea have withdrawn from the race for Newcastle striker Alexander Isak.

As reported by The Sun, the Blues and new manager Enzo Maresca were reluctant to meet Newcastle's valuation of over £100million.

Newcastle believe that in the current market Isak's value is closer to £120million.

Although Chelsea held talks with the Swedish international this week, a deal is now unlikely to happen. 

Newcastle were concerned that Chelsea were looking to exploit their PSR problems by making a low bid for the 24-year-old. 

Chelsea have reportedly withdrawn from the race for Newcastle striker Alexander Isak

Chelsea would have found it difficult to meet Isak's wage demands. The forward earns around £120,000-a-week but would have wanted around £200,000-a-week if he had made the switch to Stamford Bridge.

With a move for Isak having failed to materialise, Everton could be negatively impacted.

Sean Dyche's side are struggling to meet their PSR deadline, with the report suggesting that Newcastle boss Eddie Howe views Calvert-Lewin as his first-choice striker target should Isak depart.

Although Newcastle are willing to offer Calvert-Lewin a five-year deal and the player would be open to a move, such a deal appears unlikely to happen unless Isak departs.