According to a report from The Sun, Chelsea are prepared to offer £70 million to sign Isco from Real Madrid on a four-and-half year deal worth around £250,000 per week.
The Blues are looking to complete the deal in January with manager Maurizio Sarri hoping to have the Spanish midfielder partner Eden Hazard in midfield for his club.
Isco appears to have fallen out of favour and is now down the pecking order at Real Madrid since Julen Lopetegui was sacked as manager of the club and replaced by Santiago Solari. Since then, the midfielder has only started in one match while he has made another five appearances off the bench.
Isco was one of the players booed last week as Madrid suffered a humiliating 3-0 defeat against CSKA Moscow in their final Champions League group stage match.
There is a good chance that Chelsea could secure a deal in January with Isco now seemingly surplus to requirements at the Santiago Bernabeu. Isco is a quality player and there is little doubt that he has what it takes to be a hit in the Premier League.
Chelsea already have Mateo Kovacic on loan from the Spanish giants, while the Blues also bought Alvaro Morata from Madrid.