Luka Modric: Tottenham Agrees to Deal with Real Madrid for Star Midfielder

Tottenham has reached a transfer agreement with Real Madrid for dynamic midfielder Luka Modric, according to the club's official website. Along with Robin van Persie, Modric was one of the most talked about players on the market this summer and finally has a new home.

Jason Burt of The Telegraph reports the deal is for around £33.3 million, pending medical clearance. He will then sign a new five-year contract with the La Liga superpower, which is looking to defend last season's title.

Update: Monday, Aug. 27 at 9:20 p.m. ET

Modric has passed his physical without any issues, according to Sky Sports. Passing the medial tests allows Real Madrid to finish off the transfer in short order.

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The move comes at an ideal time for Los Blancos, who have started the new season with a draw against Valencia followed by a loss to Getafe. It's certainly not the way the team or its fans wanted to begin the defense of a championship.

Acquiring Modric should be a wake-up call for the entire squad. The fact the team was willing to step up and finalize the deal shows club management is focused on bringing home another title, even if it means spending some big money to do it.

The 26-year-old creative playmaker scored 17 goals and chipped in 26 assists during his four seasons at White Hart Lane. He should immediately jump-start the Madrid offense, which has been far less explosive in the early going than expected.

Modric joins a midfield group that already includes Mesut Ozil and Xabi Alonso as well as Angel di María on the wing. It's an area where Los Blancos should always have an advantage over opponents, even more so now thanks to Modric's distribution skills.

It's a key loss at a difficult time for Spurs. Even though it's not a surprise given all the speculation throughout the offseason, the team has very little time to bring in a replacement since the window closes at month's end.

Tottenham remains interested in Shakhtar Donetsk star Willian, according to ESPN, which reports the team had a bid rejected for the attacking midfielder. The extra funds generated from the Modric agreement could help improve the offer, though.

Spurs must work fast if they plan on replacing Modric during the current window, however. After going winless in their first two games, a move would seemingly be a necessity.