Arsenal in, Manchester City out of race to sign Real Madrid midfielder Isco?

Arsenal have reportedly entered the race to sign Real Madrid midfielder Isco during the summer transfer window.

Isco has spent much of the campaign as a squad player at the Bernabeu, and it has resulted in the playmaker being linked with an exit ahead of next season.

Manchester City have been credited with an interest but according to reports in Spain, the Premier League leaders will not be making an approach for the Spain international.

However, it has been claimed that both Arsenal and Borussia Dortmund have put offers on the table as they look to strengthen their respective squads in the coming months.

Arsenal boss Unai Emery allegedly only has £40m at his disposal, but the Gunners chief could potentially make sales in order to fund a bid for the 27-year-old.

Isco still has just over three years remaining on his contract.