Tottenham manager Andre Villas-Boas insists Luka Modric will only be sold if his club receive an offer that matches their valuation of the Croatia midfielder.
Modric is keen to leave White Hart Lane after Tottenham's failure to qualify for the Champions League and Villas-Boas confirmed that three teams, believed to be Real Madrid, Manchester United and Paris Saint-Germain, have all expressed an interest.
Tottenham rejected an offer of around £30 million ($46.9 million, 38.2 million euros) for the 26-year-old from Chelsea last year and it has been reported they will only consider bids of £35 million or more.
Modric, resting after Euro 2012, was absent as Tottenham kicked off their pre-season preparations with a 2-0 friendly win at Stevenage on Wednesday but Villas-Boas took the opportunity to underline his club's position on the Croatian.
"There has been continuous interest from three different clubs in Luka. But it is important for Tottenham to hold onto their rights," Villas-Boas told The Sun newspaper.
"His situation will continue as it is until the price is right. It's important to understand his feelings. We have been speaking and I understand his point and he understands the club's point."
Modric's desire to leave last year caused a rift with Spurs chairman Daniel Levy and briefly prompted then boss Harry Redknapp to drop the Croatian while he came to terms with the club's refusal to sell him to Chelsea.
But 12 months on, Villas-Boas, who was in charge at Chelsea at the time, believes the situation will be resolved in less antagonistic fashion.
"Luka is an intelligent person and understands the club has to defend his value their values, rights and interests," he said.
"It's a difficult situation for the club but we have been co-operative by openly saying we are willing to listen to offers.
"But the offer has not been met to what the chairman wants. If that is met there won't be any problems."