Malaga are refusing to sell reported Manchester City and Juventus target Francisco Roman Alarcon Suarez but accept they could lose the midfielder if his £17million buyout clause is met.
The 20-year-old, who is better known as Isco, has been described as the new Cesc Fabregas in some quarters and is highly rated.
City and Juventus have both been linked with him as a consequence but Malaga do not want to sell the young star.
However, the previously financially troubled Spanish club admit they would have no choice if a club offer £17m (€21m).
Malaga sporting director Mario Husillos told tuttomercatoweb.com of Isco: "He is our player and is important for the team. He is not on the market.
"We want to keep him here but you all know there is a buyout clause in his contract.
"So, if a club pay the clause, it does not depend on us anymore."