Estudiantes president Juan Sebastian Veron confirmed talks have taken place with Vissel Kobe captain Andres Iniesta over a switch to the Argentine club.
Spanish great Iniesta has been linked to a reunion with former Barcelona team-mate Javier Mascherano at Estudiantes.
The 35-year-old Iniesta – contracted to Vissel until 2021 – has called Japan home since leaving La Liga giant Barca in 2018.
Amid growing links to Estudiantes – where ex-Barca defender Gabriel Milito is head coach – after Mascherano arrived from Chinese Super League side Hebei China Fortuna, Veron insisted negotiations are yet to take place.
"Today, we can't say that there are negotiations with Iniesta," Veron told La Oral Deportiva . "[But] yes, there are talks.
"[Trying to sign] Iniesta is something that people will not forget about, regardless of whether it materialises or not."
Veron added: "Having Javier in the club is an important fact, not only for Estudiantes but also for Argentine football, for all that he is as a person and a professional."
Iniesta has scored 10 goals since joining Vissel, who also boast Lukas Podolski, Thomas Vermaelen and Sergi Samper, while David Villa retired at the end of the season.