Luka Modric has reportedly agreed a one-year contract extension with Real Madrid until next summer.

The Croatia international's current deal at Bernabeu is due to expire at the end of June, and there has been widespread speculation surrounding his future in recent months.

At least one Saudi Arabian club are believed to have offered the experienced midfielder a huge contract, but according to German journalist Florian Plettenberg, Modric has decided to remain at Bernabeu.

Plettenberg claims that the 37-year-old will sign a deal until next summer on the same terms, with Real Madrid expected to make an announcement 'in the coming days'.

Modric has again been a vital player for Los Blancos this season, featuring on 48 occasions in all competitions, scoring six goals and registering six assists in the process.

The Croatian could not help his side advance to the final of the Champions League, though, with Real Madrid losing 4-0 to Manchester City in the second leg of their semi-final on Wednesday night.

Modric started both legs of the last-four clash but was replaced in the latter stages of the first match at Bernabeu before being brought off in the 63rd minute of the game at the Etihad Stadium.

"When Madrid lose, everything becomes very big. With each defeat there is a lot of analysis and criticism but that is why we are here. We have to live with that, we are used to it," the midfielder told Marca after the heavy loss to Pep Guardiola's side.

"Criticism is not going to sink us, some of it is constructive and we accept it after a defeat like this. City have been better but this team still has a lot to give.

"It's sport, sometimes you win and sometimes you lose. Today we weren't good and they deserved to go through. We wanted to play a good game but City were superior.

"You have to accept this defeat first and see what happens later, but this team has a lot to give and can still bring a lot of joy to Real Madrid without a doubt."

Modric made the move to Real Madrid from Tottenham Hotspur in the summer of 2012, and he has represented the Spanish giants on 484 occasions, scoring 37 goals and registering 77 assists.

The midfielder has added a second Copa del Rey to his trophy cabinet this season, but Real Madrid have fallen short in both La Liga and the Champions League.

Toni Kroos and Karim Benzema are also set to sign new deals at Bernabeu, but the futures of Nacho, Mariano Diaz, Marco Asensio and Dani Ceballos remain unclear. body check tags ::