Malaga are keen to bring Eliseu back to the club.
The Portugal international is tied to Lazio and enjoyed an impressive six months on-loan at Real Zaragoza last season.
Eliseu is keen on a return to Malaga and Lazio will not stop him leaving - if the right offer arrives.
With Malaga set to come under control of new owners, there is expected to be improved funds to work with in this summer's market.