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Chelsea have reportedly joined the chase for Real Madrid star Isco, with speculation regarding his future rising following the imminent arrival of Inter Milan's Mateo Kovacic.

According to La Repubblica (h/t Metro's Jamie Sanderson, via the Daily Express' Adam Skinner) Juventus have identified the 23-year-old as a potential target and are preparing a £28.4 million offer, but Bayern Munich, Manchester City and the Blues are also keeping an eye on the situation:

The Spain play-maker is wanted by Juventus, Bayern Munich and Manchester City this summer amid talk he could be allowed to quit Madrid. And now with Jose Mourinho looking to freshen up his midfield options, reports say Chelsea are now ready to sign him. Juve are prepared to offer £28.4million for Isco but it’s thought his real value is closer to £33.7m – a figure more likely to tempt Real into selling.

Those rumours will only gain steam now that Kovacic has all but completed his move to the Spanish capital, per La Gazzetta dello Sport (h/t AS' David F. Sanchidrian).

Isco was one of Real's top performers last season, taking full use of Luka Modric's injury to stake his claim for a starting position. By the end of the campaign, he had started 26 matches in La Liga, scoring four goals and handing out nine assists, per WhoScored.com.

The numbers don't tell the whole story, as Isco was consistently one of the team's top performers in the midfield. But despite his excellence last year, he won't be guaranteed anything in 2015-16, and he looks set to battle James Rodriguez for a spot in the starting XI.

With Kovacic set to further complicate matters, it's easy to see why some believe Isco could be on his way out. There are plenty of clubs who would guarantee him a spot in their starting XI, and given his talent and sky-high potential, he would be worthy of a massive investment.

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Chelsea could certainly use another creative force in the midfield to take the pressure off of Cesc Fabregas, Oscar and Eden Hazard, and Isco is versatile enough to play all over the midfield or in one of the forward slots.

Fans shouldn't start getting carried away just yet, however. Isco is yet to give any indication he could be open to a move elsewhere, and no one within the Real organisation has openly suggested a sale.

Kovacic may be a similar player in terms of where he plays on the pitch, but the young Croatian is a raw prospect who is well behind Isco in his development. The 21-year-old will not be stealing major minutes anytime soon, and Bleacher Report's Sam Tighe thinks Asier Illarramendi or Lucas Silva will move well before Isco does:

Isco just might be the most talented youngster currently playing for the Spanish national team, and those kinds of players don't often leave Los Blancos. It would take an astronomical offer to tempt Real into a sale, well above the £33.7 million cited by Sanderson, and even then, the Spanish giants may not bite.

His playing time during the upcoming season will be key in determining his future, as it's unclear which starting XI new manager Rafa Benitez will prefer. Should it not include the Spanish playmaker, a move to another top club could be on the cards at some point in the future, but as of right now, it seems highly unlikely.

Everton Lining Up John Stones Replacement?

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According to the Daily Star, Everton manager Roberto Martinez has identified Swansea City's Ashley Williams as a replacement for talented youngster John Stones, who remains a key target for the Blues.

The Toffees remain adamant Stones is not for sale, despite several approaches from Chelsea, but Blues manager Jose Mourinho is desperate to add another defender and could be willing to offer as much as £34 million for his services:

Centre-back Williams, 30 played under Toffees boss Roberto Martinez at Swansea. The Wales skipper is under contract at the Liberty Stadium for another three years and is valued at £10million. But sources close to Williams believe Martinez will move for him if he loses Stones. Chelsea have had two bids knocked back for Everton's England defender and may have to offer as much as £34m. Martinez insists Stones, 21, is not for sale but Stamford Bridge chief boss Jose Mourinho wants to see his squad strengthened before the transfer window closes.

The 21-year-old established himself as one of England's top young defenders last season and has picked up right where he left off, impressing for Everton in their win over Southampton, per Squawka. And with Chelsea showing plenty of defensive frailties in their 3-0 loss against Manchester City, football writer Henry Winter believes the Toffees' asking price may keep increasing:

Williams would make sense as a potential replacement for Stones, as Martinez has some familiarity with the centre-back, but Everton's top priority remains avoiding a sale in the first place.

Premier League clubs have never been richer than they are right now following the new TV deal, per the BBC, and the downside of that is that it's easier for clubs like Everton to say "no" to even the highest of bids. That doesn't rule out a transfer; it just complicates matters.

The decision will likely come down to Stones himself, and if the rumours Martinez is already looking for a possible replacement are true, it's good news for Chelsea. It's still impossible to tell how this particular saga will play out, but with every passing day bringing us closer to the end of the summer transfer window, the odds of a move continue to shrink.

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