Arsenal Transfer News: Isco Would 'Welcome' Move, Latest on Riyad Mahrez Rumours

Arsenal have been given a boost in their pursuit of Real Madrid forward Isco as the Spaniard is reportedly unhappy at the Bernabeu.

According to Toby Gannon in the Sun, Isco "would welcome a move to any club that will field him" as he has become frustrated with his lack of game time at the Bernabeu.

The report added that Real could be open to selling the 23-year-old for £28.9 million, but the Gunners may have to fight off Chelsea and Manchester City if they want to sign him.

Isco has made only nine starts in La Liga this season, as he has failed to usurp Cristiano Ronaldo, Gareth Bale and Karim Benzema as Rafael Benitez's preferred attackers, per WhoScored.com.

He would likely be given more starting opportunities at the Emirates, not least because the Gunners are currently enduring an injury crisis that could threaten their title hopes this season, per Bleacher Report's Sam Tighe:

The former Malaga star is hugely versatile, able to play wide on the right, as a No. 10, a central striker and also a deep-lying midfielder.

Isco could provide cover and competition for the likes of Theo Walcott, Olivier Giroud, Alex Oxlade-Chamberlain and Santi Cazorla in north London.

Furthermore, he would add terrific quality to the Gunners' squad as he has an excellent range of passing and an eye for goal.

He would likely fit in well to Arsene Wenger's intricate tactical setup and could also improve greatly under the Frenchman's tutelage given that he is still developing as a player.

Meanwhile, the Gunners have been warned off pursuing Leicester City's Riyad Mahrez by Foxes manager Claudio Ranieri.

Previous reports have indicated the Gunners are interested in the Algerian winger, per Gregg Bakowski in the Guardian.

Catherine Ivill - AMA/Getty Images

However, Ranieri has insisted that neither Mahrez nor in-form striker Jamie Vardy will be going anywhere in January, per MailOnline's Laurie Whitwell:

"Nobody can buy them. They don’t have the money to buy them. I don’t want to put a price on them. For me they don’t have a price."

Mahrez and Vardy were both on the scoresheet on Monday night as Leicester beat Chelsea 2-1 to return to the top of the Premier League table.

They have arguably been the two best players in the division this season and their contribution has been enormous, per BreatheSport:

"

Mahrez & Vardy after 4 months of the Premier League season: 26 goals 10 assists They cost Leicester £1.4m... pic.twitter.com/wgusduHejZ

— BreatheSport (@BreatheSport) December 15, 2015"

It is unsurprising that Mahrez, 24, has been linked with Arsenal as his pace, quick feet and quality on the ball have marked him out this season as one of the league's most skilful players.

An attacking-midfield three of Alexis Sanchez on the left, Mesut Ozil at No. 10 and Mahrez on the right would be a force to be reckoned with at Arsenal.

But, if Ranieri has his way, Mahrez's value will prohibit the Gunners from snapping him up any time soon.