Malaga sporting director Francesc Arnau has insisted that his team will "leave the door open for Isco to return" to La Rosaleda.
Isco joined Malaga from Valencia in 2011 and made 82 appearances over the course of two seasons before joining Real Madrid in 2013.
It had been claimed that Malaga were given encouragement in their bid to bring the 24-year-old back to the club on loan this summer, but Arnau says that the "option of a move came from Real Madrid".
The Spanish international ultimately remained at the Bernabeu past Wednesday's deadline, but 'the door will always be open' for Isco to return to Malaga, according to their sporting director.
"I would always leave the door open for Isco to return to Malaga, he is our boy, but the option of a move came from Real Madrid, not from our club," Arnau told reporters.
Isco has won two Champions League titles and one Copa del Rey during his time with Los Blancos. Last season, he made 45 appearances in all competitions for Real Madrid, scoring five times in the process.
