According to reports from the Daily Star, Arsenal are on high alert regarding the contractual situation of Isco at Real Madrid.

Isco joined Real Madrid from Malaga during the summer of 2013 and despite showing flashes of brilliance; the attacking midfielder has never been able to cement his place as a regular in the star studded Los Blancos lineup.

With Isco entering the final 18 months of his contract, there has been a lot of speculation regarding his long term future at the Santiago Bernabeu and a host of clubs are understandably expressing their interest in signing the Spanish international.

Real Madrid want to keep hold of Isco though and recently, it has been revealed that the European champions have opened talks with the 24-year-old regarding an extension to his current terms until 2022.

While Madrid are more than capable of matching Isco’s wage requests, the midfielder is allegedly not ready to put pen to paper on a new deal until he figures out what sort of role he will be handed by manager Zinedine Zidane from now till the end of the season.

The standoff has alerted a host of clubs and now according to reports from the Daily Star, Premier League giants Arsenal are among the seven clubs currently monitoring the situation of the Real Madrid attacker.

Isco to replace Ozil?

Arsenal are sweating over the loss of superstar Mesut Ozil as they have not yet come to an agreement over a new contract for the German international and the likes of Marco Reus and Julian Draxler had been mentioned as potential targets for the English side.

Now even Isco is reportedly being considered by Arsenal and it is expected that the Gunners will be making their move if the ex-Malaga star is unable to agree on a new deal with Real Madrid.

Isco is evidently an extremely gifted young player and if indeed Ozil were to leave the Emirates Stadium, the Spaniard would prove to be more than a capable replacement.