4-year deal agreed: Medical in June, Chelsea agrees £250,000-a-week deal with Arsenal target

Arsenal and Manchester City have both been handed a huge blow in the race to sign Real Madrid play maker Isco as Chelsea have moved to beat the two Premier League club to the signing of the Spaniard.

Chelsea are set to make a reported £70m bid for the play maker with hopes of sanctioning a weekly package of £250,000-a-week , according to The Sun.

Isco’s four-and-a-half year contract with the west London club will also include a large signing-on fee as part of the package for joining the club.

READ MORE:- Click To Read More Breaking News On Chelsea

The Spaniard is reportedly ready to make the move to Stamford Bridge with Arsenal delaying on making an offer and Manchester City wanting to wait until the end of the season.

Maurizio Sarri, who has delegated negotiations to sporting director Marina Granovskaia, is a big fan of the player and wants to pair him with star man Eden Hazard.

It has been a difficult season for Isco who has fallen out of the starting XI since the appointment of Santiago Solari. The 26-year-old has not started a single one of the club’s six La Liga games since Solari replaced Julen Lopetegui at the end of October.

He was booed by Madrid supporters during last week’s Champions League defeat to CSKA Moscow and there are a number of concerns over his fitness. Both the new manager and president Florentino Perez are in agreement to sell at the right price.