The highly-rated playmaker looks set to leave Malaga this summer.
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Spanish playmaker Isco has said that both Manchester City and Real Madrid have submitted bids for him according to Sky Sports.
The Spain under 21 international is currently playing for his country at the European Championships and has been one of the stars of the tournament.
His season for Malaga was also highly successful scoring 9 league goals and helping his side to the quarter-finals of the Champions League.
Now Isco looks set to move on with both Manchester City and Real Madrid hoping to acquire him.
“There are two propositions on the table,” Isco said: “I hope to decide soon because I still have a contract with Malaga”.
“I know that both Manchester City and Real Madrid are great clubs. I want that whatever happens will be the best for me and Malaga.”
The midfielder will have a tough decision to make.
He could follow former manager and father figure Manuel Pellegrini to Manchester City or he could be lured by the prestige of Real Madrid.
New city boss Pellegrini will hope that Isco follows him to the Eithad as the two had former a strong bond during their time together at Malaga and the Chilean would probably make Isco central to his plans at City.
Whether Real Madrid could offer Isco regular first team football at the moment is another matter.