The Spain international has found himself out of favour under Zinedine Zidane, with his agent revealing that a move elsewhere will be considered
The 28-year-old playmaker finds himself out of favour under Zinedine Zidane at Santiago Bernabeu.
He has taken in seven appearances in La Liga this season, but only three of those outings have come from the start and he is yet to complete a full 90 minutes.
Frustration in the Spanish capital is starting to get the better of Isco, with there a desire on his part to see more regular game time during what should be the peak years of his career.
Several potential landing spots have already been mooted, with a number of teams in the Premier League said to be closely monitoring goings on in Madrid.
It could be that Isco follows the lead of former Blancos team-mates Gareth Bale and James Rodriguez in swapping life in the shadows at Real for a more prominent role in England.
The Toffees boss has sought to play down talk of another raid being launched on the Bernabeu for Isco, but that stance could change when the winter window opens.
Any bids are set to be considered by the Isco camp, with his representative revealing to El Larguero: “Right now we have not received offers, but he wants to try another league.”
It could be that efforts to push for the exits over the winter are blocked off, with financial issues during the coronavirus pandemic making it difficult for even the richest of clubs to do business.
That has been the case for Real, who may decide to keep their current squad intact through to the end of the season.
Isco would have no issue with that if forced to stay put, but a man tied to terms until the summer of 2022 is readying himself for a new challenge.
Alarcon added: “Staying [until the summer] would not be a problem.”