Manchester City have no interest in making a move for Isco, sources have told ESPN FC, despite again being linked with the Real Madrid midfielder.
The 26-year-old Spain international has fallen out of favour under Real boss Santiago Solari and has not started a La Liga game since the 5-1 defeat to Barcelona in October before his appointment.
Isco has been repeatedly linked with a move to the Etihad Stadium with reports in Spain claiming that City coach Mikel Arteta made an enquiry about his availability.
But Pep Guardiola has already ruled out making any new signings in the January transfer window and has no interest in signing the attacking midfielder.
City are well stocked with experienced attacking midfielders and other positions will be a priority when they look to sign new players in the summer.
The club already have Kevin De Bruyne, David Silva, Bernardo Silva and Ilkay Gundogan. And Guardiola has high hopes for 18-year-old academy graduate Phil Foden, who recently signed a new six-year contract.
Isco remained on the bench for Madrid's 2-1 victory over Real Betis while, ironically, Solari turned to 19-year-old former City forward Brahim Diaz, who failed to play any Premier League minutes at the Etihad.
Arsenal and Chelsea have also been linked with a move for the three-time Champions League winner.