The Croatian playmaker has been heavily linked with Spanish champions Real Madrid in the past few weeks and although Villas-Boas wants to keep him at White Hart Lane, he has indicated that once an agreement is made, the player could be on his way.
However, it is interesting to hear that Villas-Boas has not named Madrid as a potential home for Modric but rather that 'various clubs' are in hot pursuit.
"The interest we have from various different clubs shows the importance of the player and what he's done for Tottenham," Villas-Boas told Sky Sports News.
"It's fair to say that the club respects Luka's ambitions and his willingness to move on and he respects the fact that he's an important player for the club and can help us move forward.
"Ongoing discussions will continue with these clubs until we reach an agreement which is acceptable for each party."