FA Cup holders Arsenal have been given the green light by Real Madrid to go-ahead and make an offer for playmaker Isco.
The 23-year-old has struggled to make an impression at the Santiago Bernabeu this season and the club is willing to let him go should the Gunners offer 30 million euros for the former Malaga man, according to El Confidencial.
Arsene Wenger has already signed Egyptian midfielder Mohamed Elneny this January but is expected to make reinforcements to his midfield in the summer. Mikel Arteta, Matieu Flamini and Tomas Rosicky are all in the twilight of their careers and could all depart. Spain international Santi Cazorla is also entering the autumn of his career and signing Isco would be an ideal long-term replacement for the World Cup winner.
Should the Gunners make a move for the midfielder, they would likely face competition from Manchester City who are known to be long-term admirers of the player.
The only potential stumbling block in Isco exiting the Santiago Bernabeu is the transfer ban handed down to the club earlier this month. They are unable to register new players for the next two transfer windows meaning they will not be keen to reduce their playing squad at the moment. But with an appeal likely to delay the ban coming into force until next year, they would be able to replace Isco in the summer if they wish to cash in.