Real Madrid president Florentino Perez is prepared to sell Isco next month.
With Chelsea and Manchester City keen, Florentino is open to offers for the Spain international.
Corriere dello Sport says while Isco’s contract carries a €700m buyout clause, the president will sell for €90m.
Along with City and Chelsea, Juventus are also keen on the midfielder.
Isco, meanwhile, wore the captain’s armband last night for the Copa del Rey win over Mellila.