Isco made a €30 million move to Real Madrid from Malaga in June 2013. The Spain international has won 16 major trophies, that includes four UEFA Champions League, two La Liga, one Copa del Rey and four FIFA Club World Cup titles, with Real Madrid.
The 28-year-old has, however, fallen down the pecking order at Real Madrid since the return of Zinedine Zidane. Real Madrid and Zidane are reportedly open to the idea of selling Isco, as they look to raise funds for future transfers and create space in the squad.
Arsenal focused on strengthening their attack and defence in the summer. The club signed the likes of Gabriel Magalhaes, William Saliba, Pablo Mari, Cedric Soares and Willian. They also managed to sign Thomas Partey from Atletico Madrid on the final day of the transfer window, as they looked to add some solidity in front of a weak-looking defence.
Mikel Arteta's men have had a shaky start to the 2020-21 Premier League season. They lost four of their opening eight games despite putting in impressive showings against Manchester United and Fulham.
Arsenal seem to lack creativity and composure in midfield, something Isco, who is seemingly surplus to requirements at Real Madrid, could provide.
The Gunners could certainly look at Mesut Ozil; but with Mikel Arteta having frozen out the German playmaker from his squad, the North London club will now need to sign an attacking midfielder in January.
Arsenal to face stiff competition from Everton for the signature of Isco
Arsenal are not the only contenders for the signature of Isco though. The Gunners are likely to face stiff competition from fellow Premier League club Everton, whose manager Carlo Ancelotti is reportedly ready to raid his former side Real Madrid to be able to reunite with Isco.
Isco's lack of playing time and 'unhappiness' with his current situation at Real Madrid have alerted the likes of both Arsenal and Everton. Real Madrid could reportedly 'listen' to offers in the range of £18 million for the services of Isco, which would be a bargain price for a player, who at 28, should be at the peak of his powers.
Everton went through a major squad revamp under Carlo Ancelotti in the summer, with the Italian manager signing many big-name players. Ancelotti's most impressive signing was that of Real Madrid-reject James Rodriguez .
Rodriguez, like Isco, fell out of favour at Real Madrid and sought a move away from the Bernabeu to rejuvenate his career. The Colombian reunited with his former Real Madrid boss Ancelotti at Everton and has made an impressive start to his 2020-21 Premier League campaign.
Isco is reportedly close to James Rodriguez and may look forward to a reunion with Carlo Ancelotti at Everton. However, Arsenal could lure the World Cup winner to London, as they stand a better chance of offering European football to the midfielder.