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Newcastle had "agreed everything" with Hugo Ekitike when he was at Frankfurt before Liverpool swooped in and ultimately won the race for the French forward.
The Magpies missed out on numerous targets throughout the summer but had secured a club-record agreement with the German side to bring in their striker. Agent Ali Barat was facilitating the transfer and was on the verge of completing his signing.
Nevertheless, Liverpool's late entry into negotiations saw the Reds pip Newcastle to Ekitike's signature, with the forward making an impressive start to life at Anfield. The Frenchman found the net in his opening three competitive appearances, including one in the dramatic Premier League victory at St. James' Park.
Losing out on the 23-year-old represented one of numerous setbacks endured by Eddie Howe during the summer window, with a 10-day negotiation process ultimately collapsing despite all key elements being finalised.
Super-agent Ali Barat told TuttoSport: "Hugo Ekitike. I was working on behalf of Eintracht Frankfurt to bring him to Newcastle. I stayed in Germany for 10 days.
"We agreed everything with the German club and the player, then Liverpool called him and he chose Anfield."
The bombshell has emerged just days after Liverpool signed another No. 9 in Alexander Isak.
Newcastle chased Ekitike while still having Isak in its squad and intended to deploy the pair together. Liverpool eventually secured the striker - but only after its original pursuit of Isak had been rejected.
Howe made no secret of his desire to bring in the Frenchman as he looked to bolster his attacking options after missing out on targets like Joao Pedro and Bryan Mbeumo.
He said recently: "I think there's no doubting that I really like Hugo and have done for a number of years. He's someone that we've tracked for a long time."
Ekitike's similarities to Isak proved a major attraction for the Magpies, though they were eventually forced to look elsewhere. Another disappointment followed when they moved early to secure Benjamin Sesko from RB Leipzig.
This prompted Manchester United to enter the fray, with the Red Devils ultimately prevailing as the striker opted for them over Newcastle.
Howe did finally enjoy some transfer success during the window's closing week. Nick Woltemade arrived from Stuttgart in a club-record deal, with the German later accompanied by Yoane Wissa.
Newcastle had pursued the Brentford striker for weeks before completing his capture on deadline day.
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