Isco received an offer to join Gerard Pique's 'Kings League' after his contract was terminated by Sevilla.
The former Spain international only signed for the Andalusian outfit in the summer window but left by mutual consent in December.
Manager Jorge Sampaoli explained that the former Real Madrid midfielder "did not meet the club's expectations" and he has been without a club ever since.
Union Berlin looked to be on the verge of drafting Isco in on a free transfer and even was even reported to have had his medicals, though the two parties were far apart in terms of finding an agreement on salary.
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However, the 30-year-old did have a proposal to play in Pique's seven-a-side league, set up with streamer Ibai Llanos.
Llanos revealed Isco appreciated the offer but still wanted to continue playing top level football.
“I spoke personally with Isco in case he wanted to come play one week, even knowing that obviously he had offers," Llanos told Cuatro, via Football Espana.
"I talked to him before the (winter) market closed. I spoke to him in case he was interested in the Kings League or if he saw himself participating, and he told me that he ‘really appreciated the proposal’, but that he still had ‘quite a few years left in his career'”.
Pique's unique league, which has a bizarre set of rules, includes a player called 'Enigma', who has been playing with a mask.
It had been rumoured that he was still an active La Liga player and didn't have permission from his club, hence the disguise.
Some had suggested it was in fact Isco but it appears as though it was not the case.
The likes of Javier Hernandez, Sergio Aguero and Joan Capdevila have turned out in the tournament, which will see the final four played at a full capacity Nou Camp next month.
Isco, who won three La Liga titles and four Champions Leagues with Real, is still searching for a new club.
Topics: Isco, Gerard Pique, Barcelona, La Liga, Real Madrid
Josh Lawless