There was a good deal of chat about the possibility of Chelsea signing Malaga's Isco early this January. Said move would have made some sense -- he's an elite young talent, would have come on a relatively cheap buyout clause and the clubs had already been talking with the Lucas Piazon loan. But Isco, despite being a fantastic player, would have had difficulty fitting in with a squad already possessing Juan Mata, Eden Hazard and Oscar, and there was always some doubt as to whether anything was particularly close.

Now it seems as though Malaga are about to curtail any thought of Isco being a bargain buy with a new deal that raises his buyout clause to a far more reasonable figure -- reports have it at around £30 million. Said contract hasn't been signed yet, but it's close:

Isco's contract renewal is in its advanced stages and should be signed shortly.

We will be here presenting Isco very soon. We will be here shortly to announce the renewal of his contract.

It's not renewed as yet, but I think it will be very shortly. We understand it is virtually a done deal.

-Malaga director of football Mario Husillos. Source: Metro.

So, yeah. Isco would have been nice, but don't bet on him coming to Stamford Bridge.