Report: Real Madrid reject £20m bid from Chelsea for Spanish midfielder Isco

Chelsea have reportedly submitted a bid for Arsenal target Isco

Real Madrid have declined a £20-million bid from Chelsea for their midfielder Isco, according to the Mirror. The Spanish giants reportedly also snubbed an approach from Juventus for the Spanish midfielder, who is rumored to be a target for Arsenal as well.

Rafael Benitez reportedly wants to keep Isco at the club and sees him as an important player for the upcoming season. The 24-year-old, who was Carlo Ancelotti's first signing, didn't play a major role for the team last season as he was in and out of the squad and hence, couldn't perform consistently well.

The midfielder said a few months back that he was happy with his contribution to the club and that he prefers to stay at Real Madrid. He was quoted as saying, "I am happy with my role in the team and I have played more than I thought, I insist," via Metro.

A product of Valencia’s youth system, Isco came to the spotlight at Malaga, who signed him for €6 million in July 2011. In his debut season at the club, he helped them finish fourth in the league as they qualified for the UEFA Champion’s League for the first time in their history. He had another impressive campaign with them in the 2012/13 season.

Real Madrid went on to sign the attacking midfielder for €30 million in June 2013 and he won the Champions League with the club in his debut season. He has so far made 106 appearances and scored 17 times for the Los Blancos.

Chelsea want to sign Isco as a replacement for Juventus target Oscar

Juventus manager Massimiliano Allegri is thought to be a big fan of Chelsea playmaker Oscar and had earlier suggested that he might be interested in signing the player. When asked if he likes Oscar, Allegri said, “Very much. He is one of those players who can make a difference in Europe,” as per the Mirror.

The Brazilian playmaker had signed a new five-year deal in November last year and had insisted that he is happy at Stamford Bridge. Jose Mourinho wants to keep the player at the club and believes he will rediscover his form next season after being left out of Brazil's 2015 Copa America squad, according to the Express.

However, if Chelsea were to cash in on their versatile midfielder, the Blues boss sees Isco as an ideal replacement for the Brazilian.