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Managers may change, but one thing still seems constant when Liverpool meet Newcastle: a fondness for late drama and a remarkable ability to entertain. Kevin Keegan understood that better than most. Perhaps the greatest Premier League match of them all ended 4-3, a result that may have cost his Newcastle side the title nearly 30 years ago. As two of his former clubs honoured him, and as Matthias Jaissle stood on the verge of a winning debut that Keegan would surely have relished, this rivalry produced yet another late twist.

After Liverpool found a 100th-minute winner at St James’ Park last season, they claimed a 99th-minute equaliser this time. Andoni Iraola’s tenure did not begin with a defeat. “It’s a strange feeling,” said the Spaniard. “Before the game we would haven’t signed for this result, but the way we scored the goal in the end, it tastes better.” Newcastle, though, felt differently. “It is really hard to digest,” said Jaissle, who, like the departed Eddie Howe before him, experienced the brutal side of this fixture. Even so, it might have been harsher still for Newcastle.

When Lewis Hall brought down Victor Munoz — “it is a really soft penalty, as you call it here,” said the German Jaissle — and referee Stuart Attwell pointed to the spot, plenty on Tyneside expected one man to take centre stage. It appeared to be Alexander Isak’s moment after an afternoon marked by anonymity and abuse. But it was not.

Alexander Isak did not take Liverpool’s last-gasp penalty after an afternoon of anonymity and abuse.

Isak had been Newcastle’s outstanding penalty taker. Yet against them, it was Dominik Szoboszlai who took responsibility. With complete composure, he smashed his penalty into the top corner. “An almost impossible penalty to stop,” said Iraola. But Szoboszlai stepping up inevitably prompted the question of why Isak did not. Liverpool’s reigning player of the year embraced the moment. “More than 50,000 fans in the stadium against you. You can't hear your own voice,” said Szoboszlai. “That's why I love football and that's why I am doing it.”

For both Liverpool and Newcastle, the new campaign brought reminders of old habits, and not only in Szoboszlai’s appetite for the big occasion. Liverpool again saw another ineffective display from Isak. Newcastle, having conceded too many stoppage-time goals last season, opened the new campaign by allowing another. They have also missed out to Liverpool on too many players: Hugo Ekitike last summer, who then scored against them both home and away, and Munoz this time, who made an impact in his cameo. “I am happy for Victor,” said Iraola. “He has created problems.”

Dominik Szoboszlai seized the moment after Victor Munoz won the penalty.

That gave the new head coach an immediate return from a signing he had pushed for. Liverpool still require a right winger, and on the day Mohamed Salah opened his Trabzonspor account, Munoz at least displayed his pace with a burst down the right. Liverpool could also take encouragement from another debut, with the towering Jeremy Jacquet showing considerable promise in the centre of defence.

Yet once the pain of added time fades, Newcastle may take greater encouragement from the overall display. Eddie Howe’s exit appeared to throw them into turmoil. Instead, only 18 days after his appointment was announced, Jaissle’s high-tempo football left Liverpool looking ragged.

If Iraola had drawn up a list of everything he wanted from his first match, Jaissle seemed to get much of it instead on an afternoon that suggested there is life after Howe. There was an early goal to provide the ideal start. There was intensity in the performance, with the crowd energised by the speed of the game and the players fully committing to the manager’s ideas. There were two goals from transition play at its quickest, both coming from lightning counter-attacks. There was a goal from a substitute almost immediately after he came on, hinting at a manager with a golden touch. There was an encouraging display from one of his signings. And there was an outstanding showing from last summer’s striking recruit.

Even then, Newcastle could still be left with regrets. Wissa was superb, a player signed with the money raised from Isak’s sale and now wearing the No 9 shirt vacated belatedly by the Swede, looking like an excellent acquisition. He began as a No 10, ended as the No 9 and excelled in both roles. He said himself that this was his best game for Newcastle. “Amazing performance, even though he could have killed the game,” said Jaissle. That was because Alisson denied the £55m man when he raced through on goal. Rather than making it 3-1, the score soon became 2-2. Alisson’s brilliance in one-on-one situations again made him Liverpool’s saviour.

When Alisson was beaten, Newcastle’s goals offered a clear glimpse of Jaissle’s footballing identity. The first arrived after only four minutes, with Will Osula — leading the attack in far more dynamic fashion than Isak — releasing the rapid Anthony Elanga, who sprinted away from Milos Kerkez and finished; just as for much of last season, Liverpool’s full-backs looked vulnerable. The last side to score twice from two quick breaks against Liverpool was Iraola’s Bournemouth.

Matthias Jaissle's frantic football caused Andoni Iraola problems.

Ryan Gravenberch lost possession for both goals, although on each occasion it was closer to the Newcastle penalty area than his own. Wissa then ran 50 yards to set up Joe Willock: one minute after coming on, and with his very first touch, the midfielder scored. The home supporters could enjoy that moment, along with an impressive display from new right-back Amar Dedic, even if the man directly up against him ended up scoring.

Cody Gakpo drove in a 20-yard effort for the first goal of Iraola’s reign. He posed the danger throughout, even while the Newcastle crowd focused on the returning Isak. Every touch from him was met with whistles. He was jeered by the same supporters who once adored him, with “one greedy b******” among the more polite chants. “It was not a big surprise for him,” said Iraola. Perhaps Isak was affected by the hostility; certainly, he made little impact.

But while Isak may have become a dividing figure between Liverpool and Newcastle, this occasion was also about someone who connected the two clubs. Keegan’s name echoed around St James’ Park. In that sense, perhaps a draw felt appropriate, even if Liverpool once again inflicted pain on Newcastle.