Modric has recently been strongly linked with the likes of Manchester United, Chelsea and Real Madrid.
“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.
“I think ongoing discussions with these various clubs will continue until we reach an agreement which is sensible for each party.”
When asked if it looked like Modric would be leaving White Hart Lane this summer, Villas-Boas added: “Not really. The willingness is there from the player but a player of this importance is not easy to part company with.
“But I think the chairman is a person who respects the values of the football club and only with the right offer will we take that step.”
