Tottenham Sells Modric to Real Madrid for Reported $47 Million

Tottenham Hotspur traded Luka Modric to Real Madrid after more than a year of rejecting offers for the playmaker.

The 26-year-old from Croatia signed a five-year contract after passing a medical examination today, Real Madrid said on its website. Real will pay about 30 million pounds ($47.4 million), the British Broadcasting Corp. reported.

Modric, who scored 17 goals in 160 games for Spurs after joining from Dinamo Zagreb in 2008, was a target for Chelsea among other clubs since June 2011.

Tottenham said Real Madrid agreed to collaborate with the London team with regard to players, coaching and commercial relationships as part of the deal. It didn’t provide details.

“Luka has been a terrific player for us and, 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,” Spurs Chairman Daniel Levy said in a statement.

Tottenham has signed three players since finishing fourth in the Premier League last season, adding striker Emmanuel Adebayor from Manchester City, Hoffenheim midfielder Gylfi Sigurdsson and Ajax defender Jan Vertonghen.

Spurs hired Andre Villas-Boas as manager last month to replace Harry Redknapp.

Real, the defending champion, saw its 24-game unbeaten run in the Spanish league end yesterday with a 2-1 defeat at Getafe. It was Real’s first La Liga loss since a 3-1 defeat by Barcelona on Dec. 10.

Real opened its title defense with a 1-1 draw against Valencia. The last time it was winless after two matches was in 2001-02, according to Infostrada Sports.

Modric is Real’s first signing of the season.

“I am honored and proud to have joined the best club in the world,” Modric said, according to the Real website. “It’s the biggest challenge of my soccer career.”

To contact the reporter on this story: Dan Baynes in Sydney at dbaynes@bloomberg.net Alex Duff through the London newsroom at aduff4@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

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