Tottenham Hotspur have slapped a £35m price tag on Luka Modric, according to reports.

The Croatian looks set to leave White Hart Lane this summer following the club's failure to secure Champions League football.

Manchester United and Chelsea are both competing to sign the 26-year-old, who is believed to be looking for a way out at Spurs.

However, the Daily Mail understands that Modric will not be allowed to leave for less than £35m.

Spurs turned down a big-money offer from Chelsea at the start of last season.