The Catalans are believed to be keen on the Spain Under-21 star but could be forced to meet a €20m buy-out clause with his Andalusian club if they wish to make an approach
The Catalans are looking to strengthen their squad in the summer transfer window, and it is believed that they see the 20-year-old as a good addition to their attack.
Isco is a product of the Valencia youth academy, and made his official first-team debut at Los Che in November 2010. However, he failed to secure a regular place at Los Che, and opted to leave the club for Malaga at the start of this season.
The attacking midfielder has since developed into an important first team member for Manuel Pellegrini's side, helping them to fourth spot in La Liga and a place in the Champions League play-offs next season.
Isco has now attracted the interest of Barcelona, but the Catalans will not get the youngster on the cheap if they decide to make a move. His contract with Malaga runs until the summer of 2016, and he has a buy-out clause of €20 million.
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