Monaco striker Radamel Falcao is speaking to Chelsea about a possible transfer, Sky sources understand.
West Ham have signed goalkeeper Darren Randolph following his exit from Birmingham City.
Isco has been strongly linked with a move to Manchester City should, as expected, Manuel Pellegrini leave Malaga to replace Roberto Mancini at the Etihad Stadium.
Real Madrid have also expressed an interest in the 21-year-old, while big-spending Paris Saint-Germain have also been linked with a move for the playmaker.
Isco, who is under contract at Malaga until 2016, is unsure where he will be playing his football next season and insists his focus is on ending the season well and preparing for next month's European Under-21 Championship.
"We will do what is best for Malaga," said Isco. "Nobody knows where my future lies.
"Right now I am just focusing on the two league games which remain [at home to Deportivo and away to Barcelona] and making sure I am at full strength for next month's European Under-21 Championship."