Isco’s transfer switch to Chelsea this January is off after the player demanded more money, reports say.

Chelsea were all set to sign Isco in a £75million deal and had agreed to pay substantial add-ons.

Isco and his agent were picking up signing on bonuses, driving up the value of the deal to £100m, but have now asked for more money after interest from Paris Saint-Germain.

The Sun claim Chelsea believe Isco has no real desire to play for the club and are poised to pull the plug on the switch.

Real are ready to offload Isco as the Spanish side are happy to cash in on a player no longer central to the club’s long-term plans.

Mauricio Sarri is said to be disappointed with the sudden U-turn, as the Italian was planning to pair Isco with talisman Eden Hazard.

Isco broke his silence on transfer rumours this week, insisting he had no plans to leave Madrid.

‘I’m very excited about the new year,’ Isco told Deportes Cuatro.

‘I’m not going to go in the winter market, I’m very happy, of course I want to continue with Madrid to continue winning titles.’

Chelsea are expected to bring in reinforcements this January as Sarri has requested a new striker.

Bournemouth’s Callum Wilson and AC Milan’s Gonzalo Higuain are being linked with a switch to Stamford Bridge, as the winter transfer window officially opened on Tuesday.