Barca could be stumped in their efforts to land Asensio, too, after Catalan newspaper Mundo Deportivo (h/t The Sun's Andrew Richardson) reported they want to hand him a new deal complete with a £136 million release clause.
Isco arrived from Malaga for a fee of €30 million euros and though he struggled to nail down a regular spot for a while at the Bernabeu, he has grown to become a vital player for Zinedine Zidane's side and was an integral part of their unprecedented back-to-back Champions League success, and La Liga win.
Isco took the opportunity with both hands to establish himself in the line-up during the title run-in, even making the starting line-up ahead of Bale himself in the Champions League final victory over Juventus.
The 25 year-old has reportedly signed a massive new contract worth €6m-a-year, amid interest from Manchester City, Bayern Munich and Barcelona.
Madrid head into Sunday's Spanish Super Cup first leg at Barcelona, with talk already around the Bernabeu of winning a "sextete" (six trophies) this season. Furthermore, Los Blancos have agreed to include an stunning €700m release clause in the deal in order to avoid the same scenario that recently saw Barcelona losing Neymar to PSG.