Paris Saint-Germain  (PSG) and Chelsea are believed to be attempting to sign the 26-year-old Croatian international, but it is understood that a deal could be struck with Real Madrid over the next few days.
According to The Telegraph, Spurs chairman Daniel Levy is asking for 50 million pounds for Modric but, the Real offer is expected to be the best one he will get, as the player prefers a move to Spain rather than France.
Levy is adamant that should Modric quit Spurs, then he will also have to leave the English Premier League.
On Wednesday Spurs' new head coach, Andre Villas-Boas, confirmed that the club would listen to offers for Modric.
"The interest Luka is getting from a number of different clubs is the same as he got last year," Villas-Boas said.
"Luka is a player of major importance for the football club and that is why he attracts so many clubs. At the moment, it's in the hands of the chairman to accept the right proposition," he added.
Villas-Boas, who coached Moutinho at Porto, said he is an important player for the team.
"He was one of the most important players of Euro 2012, he had a fantastic tournament, and he's an important player for Porto. It doesn't mean that it's the only target, but if something happened of course he's the player we look on with interest," he said. (ANI )