Isco has been one of the stand out performers for Spain at the Under-21 European Championships in Israel. [Reuters]

Malaga midfielder Isco will have a tough decision to make in the coming weeks after confirming that Manchester City and Real Madrid have both made offers for his services.

Isco had a hugely impressive season with Malaga as he scored nine league goals and helped the club reach the quarter-finals of the Champions League. His fantastic form has continued this summer as he has helped Spain reach the final of the Under-21 European Championships in Israel.

The 21 year old has been one of the stand out performers in a Spain side that has scored eight and not conceded a single goal in advancing to the final against Italy on Tuesday.

Isco has previously admitted that he would have to make a decision over his future in the summer but has now revealed the two teams that are keen to sign him.

"There are two propositions on the table. I hope to decide soon because I still have a contract with Malaga," said Isco, as reported on Sky Sports. "I know that both Manchester City and Real Madrid are great clubs. I want that whatever happens will be the best for me and Malaga."

City have been installed as early favourites to sign the Spanish midfielder after they confirmed that Manuel Pellegrini would be their new manager. The Chilean worked with Isco at Malaga last season and it is believed his relationship could persuade the youngster to join him at the Etihad next season.

Isco admitted that he had a good relationship with the new City boss who has played an integral role in helping the midfielder develop.

"It is true that I already know Pellegrini. I know how he works and he has been fundamental in my career," he added. "It is a point in favour that we have already been together but it is not definitive."

Madrid will hope that the chance to remain in Spain and compete for major honours will give them the advantage as they look to rebuild after a turbulent season under the now departed Jose Mourinho.