Arsenal and Liverpool will reportedly be frustrated in their attempts to sign Real Madrid attacker Isco in the January transfer window.
It has been reported that the Premier League duo are preparing moves for the Spanish international when the winter transfer window opens.
However, according to the Daily Star, Los Blancos boss Carlo Ancelotti is not prepared to lose another midfielder after allowing Angel di Maria and Xabi Alonso to leave the Bernabeu in the summer.
Isco, 22, joined Madrid from Malaga in 2013 and scored 11 times in 53 games last season.
