The Spaniard came close to signing for City in 2013 but instead chose to leave Malaga for Real after persuasion from Zinedine Zidane.
Guardiola is looking to make changes this summer and is keen to bring in younger players at City.
Isco is an obvious long-term replacement for David Silva, although is more versatile.
Spanish playmaker Isco is set to cost City around £30millionEPAIsco has netted six goals in 28 Real Madrid appearances this seasonGetty ImagesIsco (22) scored in a 2-2 friendly draw with England in NovemberAP:Associated Press
Guardiola today admitted that he is planning for the future - and looking to bring in more young stars like Gabriel Jesus, Leroy Sane and Raheem Sterling.
He explained: “I am planning. Txiki Begiristain is planning.
MOST READ IN SPORT
AN OFFER HE CAN'T REFUSE
Legendary WWE icon CM Punk offered staggering $1m to make a one-off return to the ring
AND HE'S WON IT
Ander Herrera bags player of the year award at Man United's lavish end of season bash hosted by Rachel Riley
'NOT A COACH'
Tony Adams: Arsene Wenger couldn't coach his way out of a paper bag... and Arsenal blocked me returning FOUR times
'I'LL DO IT RIGHT NOW'
WWE star Dean Ambrose wants cross-code fight in the UFC if he is paid $500,000
FAB DAY OUT
Amazing trio of Wags step out for launch of designer shoe shop... but who are their famous partners?
'i felt embarrassed for the club'
Arsenal legend Tony Adams on his shock at 'disrespectful' final contract offer
JUDGMENT DAY
Arsenal owner Stan Kroenke 'set to jet into London' to discuss Arsene Wenger's future
'do something about your wife'
Sexy footie WAG in hot water after posing bizarre picture of herself on the LOO
Two Games left lads!
Chelsea stars given midweek break by Antonio Conte after title heroics... but they've still got the FA Cup final to go
dive bar
Premier League divers will be BANNED by the FA from next season after chiefs vote in support of rule shake-up
Feeling Bleus
Didier Deschamps blasts Martial's confidence as he snubs winger for France's clash with England
power serg
Sergio Romero set to be Man Utd number one next season if David De Gea moves to Real Madrid
Blues in Aub-it
Chelsea want Borussia Dortmund's 37-goal hero Pierre-Emerick Aubameyang to replace Diego Costa
LONDON CALLING
Crystal Palace eye double raid for Man City's out-of contract full-backs Bacary Sagna and Gael Clichy
UNITED FRONT
Fergie tapped me up twice but I turned Manchester United down because I was Arsenal through and through, says Tony Adams
SIX OF THE BEST
Leicester 1 Tottenham 6: Harry Kane hits four to become leading scorer in Premier League as Spurs rout Foxes at King Power Stadium
United offered Silva platter
Man United target and Monaco's £70m ace Bernardo Silva issues come-get-me plea
MAC IS BACK
Stephanie McMahon reveals she wants to make a comeback to the ring when she makes her WWE return
JOURNEY SOUTH
Bournemouth ready to offer Jermain Defoe a staggering £18million to land him from Sunderland
Dier Straits
Tottenham shaken as Eric Dier wants to leave along with Kyle Walker and Danny Rose... as both Manchester clubs prepare to swoop for Spurs stars
"We have to have one eye on the short, the medium, the long term.
“We are buying for the long term. That’s why Leroy is here, why Raz is here and why Gabriel is here.
City boss Pep Guardiola believes Isco will sign for him in the summerPA:Press AssociationIsco in action with Atletico Madrid forward Yannick CarrascoGetty Images
“All of them are 20 years old, except one or two cases when we need experience. The age is so important.
“Maybe we are going to buy a guy who is 28 or 29 years old because we are short in that position and he is going to give three or four important years.
"But of course, as young as possible is much better. That planning is underway.”
Leave a comment