SportBild says Isco, who has slipped down the pecking order at Madrid, continues to figure prominently on Bayern Munich's shopping list.
With Bayern Munich's own bosses freely admitting that an overhaul of their playing personnel is required, speculation is rife over the future make-up of the Bundesliga giants' squad - and the German publication SportBild has again pinpointed Real Madrid midfielder Isco as one of the club's chief targets.
Bayern keen to add Isco's playmaking abilities to their midfield
The 28-time German champions are said to see Isco - who has started just once for Madrid since Santiago Solari replaced Julen Lopetegui as head coach in October - as the ideal man to be handed the task of pulling the strings in their engine room.
Contact over summer Isco swoop already made, claims SportBild
Indeed, SportBild claims that initial contact has already been made over a summer move for the Spain international, who is also attracting interest from Juventus in Serie A, and from clubs in the Premier League and Ligue 1.
However, Bayern are well aware that Isco's release clause now stands at 700m euros and that they will have to dig deep to prise the 26-year-old from the Bernabéu.