Chelsea have been offered the chance to sign Real Madrid star Isco in a £44m January transfer deal, according to reports.
Spain international Isco has won four Champions Leagues and a La Liga title in his six-year spell at Real Madrid.
But the 27-year-old has fallen down the pecking order under Zinedine Zidane, starting just five of Real's 18 league games so far this season.
The Daily Mirror say Real Madrid are ready to offload Isco during the January transfer window as they are keen to sign Christian Eriksen from Tottenham.
Chelsea, who are now free to sign players in January after their transfer ban was lifted, are on high alert, with Frank Lampard keen to bolster a squad that had lost four of their last five Premier League games before Sunday's victory over Spurs.
The Blues boss has reportedly been given £150million to spend next month and Chelsea are also being linked with moves for Crystal Palace winger Wilfried Zaha and Leicester City defender Ben Chilwell.
Isco, who has made close to 300 appearances for Real Madrid, has also emerged as a target for defending Premier League champions Manchester City.
Real - currently sitting second in La Liga, two points behind Barcelona - return to action on January 4 with a trip to Getafe.
Lampard's Chelsea, meanwhile, face relegation-battlers Southampton on Boxing Day.
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