Modric has been wanting out of the club for a year now and seems set to leave this summer.
“I think Luka is a player of tremendous importance for this football club, and it has been like that since he joined the club,” Villas-Boas told Sky Sports News.
“The interest that we have from various different clubs shows the importance of the player and what he has done for Tottenham.
“I think it is fair to say we respect Luka’s ambitions and his willingness to move on, and I think Luka respects as well that he is an important player for the club who can help us move forward.”