The La Liga outfit are working hard to get Iturra tied down to a new contract so they will be able to demand a transfer fee in the summer but the player has so far refused to sign.
Iturra is well aware of the fact he will be in a better position to negotiate a big deal if he is a free agent but even if he does sign reports claim Malaga will let him go for a modest £3million.
That would still appeal to Liverpool boss Brendan Rodgers, who is being heavily linked with a swoop as he already starts to line up his summer transfer targets.
Iturra will have plenty of options come the end of the season and the Reds could face a battle to land him if clubs who can offer Champions League football come knocking.
Liverpool last week