Like I said with the James links, I can see something in this. He's the right age for Ancelotti, will initially be quite cheap in terms of fee, can probably do a bit on the wages and Real Madrid will want him gone.
Like with James, he can play in 1st gear and be better than our existing midfielders. It's not to say that is what James does, but even when he is shattered and walks around the pitch, his close control, vision, passing range etc get him through. Isco could easily play the position occupied at times by Gomes, and it would be a big upgrade.
Ironically when Moshiri first arrived I felt Isco was a player we could target. A sort of galtico "marquee" signing that was attainable. At first it wasn't, but with Ancelotti here it is.
The ideal would be Bernard & Bolasie and this guy in.