The Croatian's current deal will end next June.
According to Marca, Luka Modric willing to accept lower wages to continue his stay with Real Madrid.
The 35-year-old continues to be unstoppable in the midfield and his numbers put him up there right with the best. However, his current deal will expire in June 2021.
As a result, there's not much time left and Los Blancos need to make a decision about his future at the earliest.
Although the club is yet to hold concrete discussions, the player has expressed his desire to retire as a Madrid player.
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