Real Madrid star Luka Modric is has accepted a pay cut to renew his contract at the club, according to reports in Spanish Media.

Mundo Deportivo claims that the Modric has accepted Los Blancos offer to accept a new deal with the club, the Croatian has been in fine form in previous months, he has been seen as an important player once again after his solid display.

Modric alongside Lucas Vazquez and captain Sergio Ramos are currently out of contract but the latter two are said by the report to be reluctant to accept any salary reduction.

Modric current deal will expire this summer but he is in line to accept another one year deal with the La Liga Champions, though the deal is yet to be finalised.