Malaga vice-president Moayad Shatat has insisted that the club will stand firm over their asking price for Isco.
The Spain Under-21 international has been linked with both Real Madrid and Manchester City this summer.
However, Shatat has confirmed that Malaga will not sell the midfielder for anything under the €35m (£30m) clause written into his contract that allows transfer discussions to begin.
"He's a magnificent player, very important to us and if the offers do not match what we are looking for then we will not sell the player," Sky Sports News quotes him as saying.
"We will only sell for the right price, and that price has been set. We have no need to sell if the price is not right."
Isco was part of the Spain side who were crowned Under-21 European Championship winners on Tuesday.
