Arsenal have held a long-term interest in Real Madrid midfielder Isco, and they have been linked with a move for the midfielder again this month.
The Gunners have received a major boost in their pursuit of the Spain international after they have been given a go-ahead by the La Liga club to sign their player.
Spanish publication El Confidencial reports that Los Blancos have slapped a price tag of £25 million on the 23-year old and have told Arsenal that they can get their man in January by stumping up his price tag.
Isco has been left frustrated with the lack of playing opportunities this season and has been reportedly seeking a move away from Real Madrid. He has managed only 12 league starts this season. He signed for Real Madrid from Malaga in a €30 million transfer move in 2013.
He was a part of the La Decima winning Real Madrid squad in the 2013-14 season and appeared as a second-half substitute in the final against Atletico Madrid.