Manchester United could reportedly sign Spanish starlet Isco from Malaga as a successor to Paul Scholes, but only if they reach the release clause written into his new contract with the club.

The 20-year-old midfielder signed an improved deal with Malaga last month and, according to the Daily Star, it will take an offer of £30 million to activate the contractual stipulation that will allow Isco to leave.

Manchester United have reportedly identified Isco as a possible long-term replacement for Scholes, who is bring the curtain down on his illustrious Old Trafford career at the end of the season.

Scholes initially retired in 2011 but returned to action for Manchester United just six months later when it became apparent that Sir Alex Ferguson would be able to sign a suitable successor.

The Daily Star claims that Isco, likely to become the next breakthrough star in Spanish football, is a player judged to have the potential to replace the Manchester United, and the youngster would be willing to leave Malaga for the right offer.

"If it's helping Malaga, I would have no problem in accepting an outcome that was good for both," Isco told Spanish newspaper AS.

Along with Manchester United, Isco is also a reported target for Arsenal, Barcelona, Chelsea, Manchester City and Tottenham, while Barca star Andres Iniesta says he would love his compatriot to arrive at the Camp Nou.

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