Arsenal plan stunning Real Madrid bid but face contest from Liverpool and Spurs - report

Real Madrid are expected to complete a squad overhaul in the summer having fallen short in La Liga this season.

Zinedine Zidane’s side currently sit 15 points behind Barcelona in the table and their only chance of silverware is in the Champions League.

But it is their poor league form this campaign that has concerned Los Blancos president Florentino Perez the most.

There have been strong reports suggesting they could make a world-record bid to sign Neymar while moves for Harry Kane and Eden Hazard have also been touted.

However, in order for Real to fund their large summer expenditure it is said they will need to cash in on some of their first team players.

And Modric could be one of the players sacrificed with Arsenal ready offer £53million for his signature, according to Spanish outlet Don Balon.

The 32-year-old left Tottenham back in 2012 and has established himself as one of the world’s best central midfielders.

The Gunners are desperate to bring in more world-class talent as it looks likely they will miss out finishing in the top four for a second successive season.

But Arsenal aren’t the only club interested in bringing Modric back to the Premier League.

The report claims Tottenham are hoping to entice Modric back to north London while Liverpool boss Jurgen Klopp is also considering a move.