Nacho, 34, will come off contract at Real this summer.
Marca says Nacho has decided on a move to Major League Soccer, although it is not clear which club he will be joining.
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Inter Miami have been mentioned as a possible destination.
Nacho's plan is to continue his career in MLS, but it remains to be seen if Inter Miami wins the tug of war.
Inter Miami currently boast former Barcelona stars Lionel Messi, Sergio Busquets, Luis Suarez and Jordi Alba.