Chelsea have endured a torrid defence of their Premier League crown this season and are in serious danger of missing out on a top four finish.
They currently sit five points outside the Champions League places with just eight games left of the season.
And failure to qualify for Europe’s elite competition could leave them vulnerable to losing their best players in the summer.
Both Hazard and Courtois have been strongly linked with moves to Real in recent months.
But it seems the Blues could be willing to do business with Los Blancos.
That’s according to Spanish outlet Diario Gol, who claim Chelsea are eyeing up a move for Isco.
It is said the Spain international is the No 1 target to replace Hazard and the latter has already informed Courtois of the transfer.
Isco has struggled to hold down a regular starting spot in Zinedine Zidane’s side of late, starting just four of Real’s last nine La Liga games.
But Chelsea will reportedly have to up their offer to sign Isco from £61million to £105m.
And the Stamford Bridge outfit could face competition from Manchester City with the report adding Isco would prefer to link up with Pep Guardiola.