Modric is likely to leave Real Madrid at the end of the season with the Croatia international’s form waning this season.
Los Blancos will cut some players loose following a turbulent campaign under Zinedine Zidane.
Modric is still regarded as one of the best players on the planet but the former Tottenham star is ready to leave and embark on a new challenge elsewhere.
And Spanish website Diario Gol say the veteran could make a stunning move to Arsenal.
The Gunners are in sore need of reinforcements.
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Yesterday’s humiliating 3-0 defeat to Manchester City in the Carabao Cup final has left Arsene Wenger exposed once again.
Jack Wilshere was a rare bright spark but the England international is still yet to sign a new Arsenal contract.
There are also question marks over the futures of Granit Xhaka, Mohamed Elneny and Santi Cazorla.
Modric could bring some much-needed composure to Arsenal’s midfield.
But Diario Gol say Tottenham are also keen on bringing the player back to north London.
Mauricio Pochettino’s side, though, should beware.
Real are determined to sign Harry Kane and may try to include Modric in the operation to lower Spurs’ asking price.
Tottenham are unlikely to say yes to that.
But they may think differently if Gareth Bale was included instead.