The Croatia midfielder is wanted by Chelsea - who have already bid ?22million - and Manchester United as the scrap for his signature rumbles on.
Modric is due to meet with Spurs chairman Daniel Levy to thrash out his future amid fears he will attempt to force his way out of White Hart Lane.
Under orders: Spurs boss Harry Redknapp insists he does not want to sell Luka Modric to Chelsea
Tottenham boss Harry Redknapp has warned Chelsea to leave Luka Modric alone after branding their bid for the playmaker as 'farcical'.
TheTottenham manager reiterated his stance that the midfielder is not for sale having rejected a bid from the Blues earlier this summer and added Gareth Bale will not be sold either.
Modricpublicly declared he wanted to leave White Hart Lane for a club in the Champions League but Redknapp is refusing to cave in, warning Chelsea hedoes not want to sell him.
'I was surprised by the figure. It's a farcical bid,' said Redknapp.
Not for sale: Gareth Bale was back in training at Spurs Lodge in Chigwell on Monday
Showdown: Daniel Levy
'If they're going to make an offer, make an offer, but ?22m for Luka Modric is ridiculous.'
ButRedknapp would not say what kind of bid might interest Spurs, also rejecting the notion that ?30m would be enough and insisting the player was not for sale.
'We wouldn't put a valuation on him,' he said.
'He'ssuch a fantastic player, we don't want to sell him. He's up there with the very, very best players in the Premier League and I think he can play in any team in the world, he's that good.'
Redknappadmitted it would be a challenge to compete financially with the Premier League's top clubs but insisted he did not want to break up his squad, by selling the likes of Modric, to benefit his rivals.
'That is the problem,' he said. 'It'snot only Chelsea who would want him, two or three other clubs would be bidding if we made him available.
'Butwe don't want to lose him. We need to keep our best players, we need toimprove our squad, not decimate it by selling our best players.
'There'sno reason we can't show the ambition ourselves. I'm not saying we can pay the wages of Manchester City or Chelsea, but we've got a great groupof players and if we can add a few more anything could happen.'
Redknappwas also asked about the future of Gareth Bale, frequently linked with Inter Milan last season, but insisted the Wales midfielder would also beat White Hart Lane next season.
'Garethwill stay,' he said. 'He's a great kid, improving and learning the gameall the time and he's coming on leaps and bounds since he broke into the team on a regular basis.
'He needs to stay at Tottenham and keep learning.'
?Spurs boss says Modric and Bale will stay as Redknapp blasts Blues' bid for LukaDon't call him Money Modric! Van der Vaart says Luka's leanings to Chelsea is trophy drivenHarry Redknapp to loan out Jake Livermore and Bongani Khumalo to gain experience at RangersAll the latest Tottenham news, features and opinion
?Explore more:People: Daniel Levy, Gareth Bale, Harry Redknapp, Luka Modric Places: Wales, Croatia
Source: Daily Mail
Source: Daily Mail