Andre Villas-Boas has revealed that Luka Modric wants to leave Tottenham and discussions are continuing with 'various interested clubs', but he will only be sold if the right offer comes in.
Modric has been a star performer for Spurs since making the move to White Hart Lane in 2008, but has again been linked with a move elsewhere this summer.
Chairman Daniel Levy stood firm to keep the Croatian at the club 12 months ago when he had set his sights on a switch to Chelsea, and Villas-Boas admits Tottenham have to respect his wishes.
Villas-Boas, who recently replaced Harry Redknapp as manager, says there is plenty of interest in Modric but he is such a key player that it would be hard to let him go.
"I think Luka is a player of tremendous importance for this football club, and it has been like that since he joined the club," Villas-Boas told Sky Sports News.
"The interest that we have from various different clubs shows the importance of the player and what he has done for Tottenham.
"I think it is fair to say we respect Luka's ambitions and his willingness to move on, and I think Luka respects as well that he is an important player for the club who can help us move forward.
"I think ongoing discussions with these various clubs will continue until we reach an agreement which is sensible for each party."
Asked to confirm that it looked like Modric would be leaving, Villas-Boas added: "Not really. The willingness is there from the player but a player of this importance is not easy to part company with.
"But I think the chairman is a person who respects the values of the football club and only with the right offer will we take that step."
Joao Moutinho has been mentioned as a possible replacement for Modric after impressing for Portugal at Euro 2012.
Villas-Boas knows the midfielder well from his time with Porto and admits he would be interested in securing his services, although there are also other targets in mind.
"He was one of the most important players at Euro 2012, of course. He had a fantastic tournament," said Villas-Boas.
"He is also an important player for Porto and of course counting on players of this dimension will always be interesting for us.
"It does not mean he is the only target we are looking at, but eventually if something happens he is a player we are looking at with some interest."