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New Malaga deal for Isco

Highly-regarded Malaga playmaker Isco has agreed to a new contract with the club, which includes a release clause of around $53 million.

The new deal doesn't necessarily mean that Isco's long-term future resides with Malaga, but more significantly it raises his release clause dramatically from $28 million, which is a big issue for a club in financial trouble.

Isco, 20, has already attracted interest from a number of big clubs across Europe, and Malaga sporting director Mario Husillos has already acknowledged that he is likely to lose the talented young attacker.

"Isco has made an important step forward - he is a great player who is wanted everywhere," said Husillos.

"He plays for the Spanish national team. The idea is to enjoy him for as long as we can at Malaga. Everyone wants to improve and, if he keeps growing like this, it is understandable for him to go to a huge European club."

The Spain international scored his seventh goal of the season on Sunday in a 3-2 win over Mallorca, moving Malaga into fourth place in La Liga.