Malaga coach Manuel Pellegrini has fielded interest from Manchester City and Chelsea in recent weeks.
Pellegrini's agent has confirmed an approach from Chelsea, while Madrid sources say City are also interested, where Spanish chiefs Ferran Soriano and Txiki Begiristain are in control of football matters.
Chilean Pellegrini, who speaks excellent English, favours City over Chelsea, where he is concerned about Roman Abramovich's hair-trigger approach to coaching appointments.