Real Madrid, Modric reach verbal agreement over extension
Luka Modric is close to signing a one-year extension to his Real Madrid contract, which is due to expire at the end of the 2020/21 season.
Real Madrid have reached a verbal agreement with Luka Modric over a one-year extension to the Croat’s contract, according to information published by Marca and confirmed to AS by sources close to the talks. Only minor issues still need to be resolved in the negotiations; they are not expected to be an obstacle to a deal.
Modric out of contract at Real Madrid at end of season
Modric, 35, is currently under contract at Madrid until June 2021. Although his present deal was originally due to run until summer 2020, his Ballon d’Or win in January 2019 triggered an automatic 12-month extension to the agreement.
After Madrid’s disastrous 2018/19 season, Los Blancos had pushed contract negotiations with Modric down their list of priorities, but the midfielder’s fine form both last season and so far this term have persuaded the club’s hierarchy of the player’s continuing importance to the team, despite the fact he will be 36 when the 2021/22 campaign begins.
New contract to include wage drop
Given the current financial climate, in which Madrid have seen revenue drop by 25% as a result of the coronavirus pandemic, Modric’s new contract will feature a slight reduction in his salary to help the 13-time European champions to balance the books.
Modric a four-time Champions League winner with Real Madrid
Since joining from Tottenham Hotspur in a 35-million-euro transfer in 2012, Modric has made 363 appearances for Real Madrid in all competitions, scoring 25 goals. He has helped the Spanish-capital club to a trophy haul that includes two LaLiga titles, four Champions Leagues and one Copa del Rey.