The Croatia international's future has been subject of speculation this summer, which was fuelled further by the 25-year-old's admission last month that he would like to leave White Hart Lane for pastures new.
There were reports on Tuesday that Modric would meet chairman Levy to discuss his future but it is now believed that no such meeting has been scheduled.
It is understood that Modric has yet to return from his summer holidays and is not due back in the United Kingdom until Thursday, with no meetings slated for his return.
Modric has been mooted this summer as a potential target for both Manchester clubs and Chelsea, leading the playmaker to admit that he would like to leave Harry Redknapp's side for Stamford Bridge.
The Zadar-born midfielder's comments were met with a firm rebuffal from Spurs, with Levy announcing in a statement that the midfielder was not for sale at any price.
"I wish to make it absolutely clear, as I have said previously, that none of our key players will be sold this summer," he said.
"We are building a team for the future to consistently play at the highest level and retaining quality players is crucial to that.
"In respect of Luka Modric, we are not prepared to sell, at any price, to Chelsea Football Club or any other club.
"We made our stance on this issue abundantly clear in writing to Chelsea. They chose to ignore it and then subsequently made the offer public.
"For the avoidance of any doubt, let me reiterate that we shall not enter into any negotiations whatsoever, with any club, regarding Luka."
While Levy insisted that the club considered the "matter closed", Modric has continued to be linked with a move away from north London.
Modric joined Tottenham from Dinamo Zagreb in a ?16.5million move three years ago and has since established himself as a key player for the club, performing with aplomb in the Premier League and last season's Champions League campaign.
Source: Team Talk
Source: Team Talk