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Tottenham and Real Madrid agree $50M Modric switch

August 27, 2012 -- Updated 1137 GMT (1937 HKT)
<strong>From Inter Milan to Manchester City:</strong> The reigning English Premier League champions have snapped up right-back Maicon for an undisclosed fee to help boost their bid for domestic and European honors in 2013. The Brazilian international has been at the San Siro for the past six seasons and made 235 appearances for the club. From Inter Milan to Manchester City: The reigning English Premier League champions have snapped up right-back Maicon for an undisclosed fee to help boost their bid for domestic and European honors in 2013. The Brazilian international has been at the San Siro for the past six seasons and made 235 appearances for the club.
Maicon -- undisclosed fee
Rafael van der Vaart -- $16 million
Dimitar Berbatov -- undisclosed fee
Lucas Moura - $55M
Thiago Silva - $50.75M
Javi Martinez - $50M
Luka Modric - $50M
Eden Hazard - $49.5M
Oscar - $39.25M
Robin van Persie - $37.5M
Ezequiel Lavezzi - $36.25M
Shinji Kagawa - $26.25M
Jack Rodwell - $24M
Zlatan Ibrahimovic - $24M
Alex Song - $23.7M
Santi Cazorla - $23.5M
Marco Reus - $21M
Luuk de Jong - $18.5M
Olivier Giroud - $18.5M
Jordi Alba - $17M
Fabio Borini - $17M
Lukas Podolski - $15.75M
Mario Mandzukic - $15.75m
Jan Vertonghen - $11.5M
Cesar Azpilicueta - $11m
Marko Marin - $9.5M
Cassano/Pazzini - Swap
Diego Forlan - Free transfer
Riccardo Montolivo - Free transfer
Nurhi Sahin - Season loan
  • Tottenham Hotspur and Real Madrid agree transfer of Luka Modric
  • The Croatia playmaker will undergo a medical before signing a five-year contract
  • Modric arrived at Spurs from Dinamo Zagreb in 2008 and has played 160 games for the club
  • A new partnership between the two teams has also been announced

(CNN) -- English Premier League club Tottenham Hotspur and Real Madrid reached an agreement for the highly-anticipated transfer of Luka Modric on Monday, with the Croatia playmaker set to sign a five-year deal with Spanish champions.

Modric will undergo a medical before becoming Real coach Jose Mourinho's first signing since the 2011 August transfer window for a reported fee of $50 million.

The two clubs also announced a partnership which will see them work together with players, coaching, best practices and commercial activities.

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"The strong relationship and affinity between our two clubs has resulted in the cementing of a longer-term partnership and the successful transfer of Luka Modric," Real president Florentino Perez said in a joint statement on the London team's website.

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"We are delighted to welcome Luka and look forward to working closely with Tottenham in the coming years."

Modric made 160 appearances for Spurs, scoring 17 goals, after joining from Croatia's Dinamo Zagreb in 2008 for a fee of $26 million which equaled the club's transfer record.

The 26-year-old was named Tottenham's player of the season in 2010-11 and was linked with moves to Premier League rivals Manchester United and Chelsea -- he wanted to join the latter before the start of last season but was persuaded to stay.

With Tottenham failing to qualify for the Champions League despite finishing fourth last season, thanks to Chelsea's European triumph, new manager Andre Villas-Boas had been resigned to Modric's departure -- and the midfielder's performances at Euro 2012 enhanced his value.

"Luka has been a terrific player for us," said Spurs chairman Daniel Levy.

"Whilst we preferred not to part with him we are pleased that it is to Real Madrid, a club with which we now look forward to sharing a long and productive partnership."

Real will hope Modric's imminent arrival can provide an upturn in fortunes. The nine-time European champions lost 2-1 to Madrid rivals Getafe on Sunday, following a 1-1 draw with Valencia on La Liga's opening weekend.

Los Blancos also suffered a 3-2 defeat against archrivals Barcelona -- who top the early-season standings after two wins -- in the first leg of the Spanish Super Cup last week.

The second leg will take place at Madrid's Bernabeu on Wednesday.

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