Sevilla said in a statement that both the club and the player had agreed to part ways. The 30-year-old Isco scored one goal in 19 appearances for Sevilla.
Once considered one of Spain's most talented playmakers, Isco arrived in August as a star signing of Sevilla with the hopes of reviving his career after he had become a rarely used reserve for Real Madrid.
Sevilla is struggling this season. It replaced coach Julen Lopetegui with Jorge Sampaoli in October. It is in the relegation zone in 18th place.
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