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Manchester United must reportedly hand over £176m to Real Madrid if they are to sign Isco, who is also said to be after wages of £17m a year at Old Trafford.

Real Madrid have reportedly informed Manchester United that it will take a bid of £176m for them to consider parting company with midfielder Isco.

The Red Devils, along with arch-rivals Liverpool, are understood to have targeted the 25-year-old ahead of the summer transfer window.

According to Spanish outlet Don Balon, however, United will need to cough up a huge sum to land the Spain international, who is also said to be after £17m a year in wages.

Isco has five goals and four assists in 21 La Liga appearances for Madrid this season, while also featuring prominently throughout their Champions League campaign.

United, in the market for new midfield talent, were also recently linked with Jean Michael Seri of Nice.

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