Chelsea are thought to be considering returning with a third offer for Modric after seeing that the Croatian pleaded with Spurs boss Harry Redknapp not to select him for Sunday's 5-1 defeat to Manchester City, and King sees parallels with Dimitar Berbatov's ?30.75million deadline day move to Manchester United from White Hart Lane in 2008.
"We've had this issue before with Berbatov - it was a similar start for us then," King told Sky Sports News with the thrashing at the hands of Roberto Mancini'[s side still fresh in the memory.
"The sooner it's done, either way, the better. I don't think it (the speculation) helps at the end of the day.
"I don't think it helps in any way. As players you try and get on with the job the best you can.
"We, as players, want the window to close now so we can get on with the squad that we've got and get on with business.
"It's been ongoing for the whole of the summer. As players we want him to stay, he's a great lad."
The 5-1 hammering against Roberto Mancini's men made it clear that reinforcements are needed at Tottenham.
Brad Friedel and Emmanuel Adebayor have been the only arrivals of note at the club this summer, but manager Redknapp is keen to bring in three new faces before tomorrow night's 11pm deadline.
West Ham's Scott Parker is thought to be top of Redknapp's wishlist. No deal has been agreed by the two clubs yet, but the Hammers hope the transfer will be concluded on Tuesday to give manager Sam Allardyce time to find a suitable replacement.
Source: PA
Source: PA