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.

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.

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.