Tottenham chairman Daniel Levy won't budge from his £40 million valuation for Luka Modric.

Modric has stated his desire to leave the north London club this summer for Real Madrid, having remained faithful to them last season after widespread interest - including from Chelsea, then managed by current Spurs boss Andre Villas-Boas.

Tottenham are willing to sell Modric at the right price, but Press Association Sport says they are looking for a fee nearer to £40million than the widely-reported figure of £35million. Manchester United and Paris St Germain are also reported to be interested in the 26-year-old.