Transfer News: Tottenham's Luca Modric Close to Completing Real Madrid Move

Tottenham Hotspur's Luka Modric is close to completing his transfer to Real Madrid. 

According to Croatian website 24Sata.hr, the 26-year-old midfielder has agreed to terms with the Spanish club and could finalize his move in the near future.

"Everything has been resolved. Luka and Real Madrid agree on everything," a source close to Modric has been quoted as saying.

However, Tottenham's asking price of around £40 million is higher than the Spanish champions are willing to pay for his services.

The source continued, "There is a little more difficulty with the position of Tottenham but everything will be solved and will be resolved quickly."

Should another club produce a better offer than Madrid, it's likely that Tottenham would sell the player to the highest bidder.

An insider told ESPN, "...it seems more likely that Modric will be sold if a club comes close to Spurs' asking price."

The arrival of new Tottenham manager Andre Villas-Boas has facilitated Modric's transfer.

The insider continued, "The club have a new manager who wants to buy his own players and the sale of Modric can significantly help in that direction."