I believe that this will be Luka Modric's final season with Real Madrid. I haven't seen Real Madrid allow many older players to stay longer than Modric, and part of the reason for this is his physical makeup and longevity. I also think that Real Madrid will want him to leave if mbape decides to join the team. Despite Vinicius's refusal to give Mbappe a number 7 shirt when he wants to join Real Madrid, they should have given him the number 10 clothes to wear in order to resolve the issue rather than selecting a different number that might cause confusion.
Modric is a hero of Real Madrid, so the privilege given to him is understandable. Besides, Real's force is quite thin, and having Modrid in the squad helps them have more backup plans. The number 7 shirt definitely still belongs to Vinicius, the number 10 is already waiting for Mbappe. Modric will leave this summer, coinciding with Mbappe's arrival if this deal is successful.
I think the possible withdrawal of Tottenham, Arsenal and Chelsea is not because they can't afford 130 million euros, but I think it's too risky to buy a young player at such a high price and even when he has only been two seasons in the Premier League, even when we look at his current market value which does not exceed 75 million euros so indeed the price pegged by Newcastle is really beyond logic at the moment, With 130 million euros of course Tottenham, Arsenal and Chelsea will be able to get 2 other players who may be better than Isaak at the moment, besides that reportedly Arsenal and Chelsea are fighting for one more Swedish talent namely Viktor Gyokeres who is still better than Isak, I think even the price pegged by Sporting is not higher than Newcastle for their talented young attacker.
I also think like you, it is not wise to spend a large amount of money just to own a young player who is still in the stage of asserting his talent. The salary fund as well as financial fairness laws will cause them to consider a lot. Newcastle is too confident in their players, while they are forced to sell to balance their budget. Obviously Newcastle is in a passive position, and I'm sure Tottenham, Arsenal and Chelsea are not foolish enough to negotiate at this sky-high price.
The team that wants Isak the most is probably Arsenal when their fans recently flocked to the Emirates Stadium gate to express their desire for Arsenal to recruit Isak this summer. Besides, Arsenal once wanted to recruit Isak when he was still playing for Sociedad. And recently, Arsenal still put Isak on their potential transfer list.