The Croatian international looks certain to leave White Hart Lane this summer with Spanish champions Real Madrid thought to be leading the chase for his signature.
Mega-rich French side Paris Saint Germain along with Chelsea and Manchester United also amongst his potential suitors with the 26-year-old determined to leave Spurs after failing to qualify for the Champions League.
New boss Villas-Boas has now told clubs they must fork out £35 million to prise Modric away from North London with the player still having four years to run on his contract.
Quoted in several national newspapers, Villas-Boas said: “There has been continuous interest from three different clubs in Luka.
“But it is important for Tottenham to hold onto their rights. His situation will continue as it is until the price is right.
“It’s important to understand his feelings. We have been speaking and I understand his point and he understands the club’s point.”
Speaking Speaking after Wednesday night’s 2-0 pre-season friendly win at Stevenage, Villas-Boas admitted chairman Daniel Levy is unwilling to accept anything less than his valuation of Modric.
The Portuguese tactician knows full well the stubbornness of Levy having seen three bids rejected for the former Dinamo Zagreb playmaker last year during his brief stint as manager down the road at Stamford Bridge
“Luka is an intelligent person and understands the club has to defend his value their values, rights and interests,” he said.
“It’s a difficult situation for the club but we have been co-operative by openly saying we are willing to listen to offers.
“But the offer has not been met to what the chairman [Daniel Levy] wants. If that is met there won’t be any problems.”