ESPN understands Real Madrid are preparing a £33 million bid for Croatia international Modric, but Villas-Boas insists there have been no further offers at this point.
Modric, who has made no secret of his desire to leave White Hart Lane, has not travelled with Spurs on their pre-season tour of the United States, but while Tottenham have said they will not stand in Modric's way if he wants to leave, they are holding out for their asking price..
"There is no news at the moment," Villas-Boas said ahead of Tottenham's pre-season friendly against Liverpool in Baltimore. "The player is training in London. There have been no further bids, no improved bids. The value hasn't been met for what we think is correct.
"We have a big squad and we are fielded in most of the positions, so we just have to wait and see how that deal goes or doesn't go. If the player eventually stays, he is a player of fantastic talent for us and will certainly add to our squad."
Madrid boss Jose Mourinho is believed to be looking to ease tensions with Tottenham and, when asked about Modric on Friday, he offered a diplomatic response. "I don't talk about players from other clubs," he said.
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