The Spain international has excelled at Real Madrid this season to find one goal and five assists in just six La Liga starts as stand-in for injured former Tottenham talisman Gareth Bale.
Carlo Ancelotti doesn’t want the 22 year-old to leave the Bernabeu, having demonstrated his ability to adapt to virtually any role across the midfield without compromising his quality going forward.
But the European Champions are plotting huge bids for Bayern Munich’s David Alaba and Cruzeiro’s Lucas Romero next summer, amongst others, and could resultantly surrender Isco to one of his suitors in January to balance the books.
Reports in Spain claim fellow Isco-admirers PSG are willing to pay up to £64million for the La Liga prodigy when the transfer window reopens, so the impetus is now on Liverpool or Arsenal to make a similar offer.
Manchester City are still yet to show their hand however; Manuel Pellegrini reached a Champions League quarter-final with Isco during their time together at Malaga, and has attempted to bring the young playmaker to the Etihad on several occasions over the last 18 months.