(CNN) -- Croatia midfielder Luka Modric will not be sold to Chelsea, according to the chairman of his English Premier League club Tottenham. The 25-year-old has been the subject of transfer speculation after helping the London side reach the quarterfinals of the UEFA Champions League last season, and his manager Harry Redknapp on Thursday ridiculed a bid of $35.5 million for the player. Modric, who cost Spurs $27 million when he signed from Dinamo Zagreb in 2008, was on Saturday quoted by English newspaper the Daily Mail as saying he wanted to join London rivals Chelsea. In response, Tottenham chairman Daniel Levy issued a statement on the club's website confirming that Chelsea's initial approach had been turned down and that he had not invited an improved offer. "I wish to make it absolutely clear, as I have said previously, that none of our key players will be sold this summer. We are building a team for the future to consistently play at the highest level, and retaining quality players is crucial to that," Levy said. "In respect of Luka Modric, we are not prepared to sell, at any price, to Chelsea Football Club or any other club. We made our stance on this issue abundantly clear in writing to Chelsea. They chose to ignore it and then subsequently made the offer public. "For the avoidance of any doubt, let me reiterate that we shall not enter into any negotiations whatsoever, with any club, regarding Luka. We now consider this matter closed." With Tottenham playing in Europe's second-tier Europa League next season after finishing fifth in the Premier League, Modric appears keen to join a club fighting for major titles. Second-placed Chelsea sacked manager Carlo Ancelotti after a trophyless season following a league and cup double in his first campaign, and the Italian's replacement has yet to be announced. "If somebody comes to the club and the offer is good for me and acceptable to them, then I want to leave," Modric told the Daily Mail. "I want to leave Tottenham as friends. I have enjoyed my time there, but now it is right for me to look at another club. "I have an arrangement with the chairman. When I signed my new contract, he said that, if another club came to sign me, they would consider the offer. I won't ask for a transfer, no. That would be disrespectful. I hope they can reach an agreement that is satisfactory for everyone. "Chelsea are a big club with an ambitious owner. They have great players and they have ambitions to fight for the title and win the Champions League. I want to stay in London. I am very happy here and so are my family." Despite not having a manager in place, Chelsea officials are in talks with highly-rated young Belgium international striker Romelu Lukaku, the 18-year-old striker's club Anderlecht revealed on Friday. Meanwhile, English club Newcastle United signed former France under-21 midfielder Sylvain Marveaux on a five-year contract from Rennes on Saturday. The 25-year-old will bolster Newcastle's midfield ranks following the departure of club captain Kevin Nolan to relegated West Ham. Marveaux follows West Ham's Senegal international striker Demba Ba in moving to St James' Park, where he will link up with compatriots Hatem Ben Arfa and Yohan Cabaye.
Tottenham unhappy with Chelsea's attempt to sign playmaker Luka Modric .
Croatia midfielder tells English newspaper that he wants to join London rivals .
Spurs chairman issues statement saying the 25-year-old is not for sale .
French midfielder Sylvain Marveaux joins English Premier League club Newcastle .
(CNN) -- Croatia midfielder Luka Modric will not be sold to Chelsea, according to the chairman of his English Premier League club Tottenham. The 25-year-old has been the subject of transfer speculation after helping the London side reach the quarterfinals of the UEFA Champions League last season, and his manager Harry Redknapp on Thursday ridiculed a bid of $35.5 million for the player. Modric, who cost Spurs $27 million when he signed from Dinamo Zagreb in 2008, was on Saturday quoted by English newspaper the Daily Mail as saying he wanted to join London rivals Chelsea. In response, Tottenham chairman Daniel Levy issued a statement on the club's website confirming that Chelsea's initial approach had been turned down and that he had not invited an improved offer. "I wish to make it absolutely clear, as I have said previously, that none of our key players will be sold this summer. We are building a team for the future to consistently play at the highest level, and retaining quality players is crucial to that," Levy said. "In respect of Luka Modric, we are not prepared to sell, at any price, to Chelsea Football Club or any other club. We made our stance on this issue abundantly clear in writing to Chelsea. They chose to ignore it and then subsequently made the offer public. "For the avoidance of any doubt, let me reiterate that we shall not enter into any negotiations whatsoever, with any club, regarding Luka. We now consider this matter closed." With Tottenham playing in Europe's second-tier Europa League next season after finishing fifth in the Premier League, Modric appears keen to join a club fighting for major titles. Second-placed Chelsea sacked manager Carlo Ancelotti after a trophyless season following a league and cup double in his first campaign, and the Italian's replacement has yet to be announced. "If somebody comes to the club and the offer is good for me and acceptable to them, then I want to leave," Modric told the Daily Mail. "I want to leave Tottenham as friends. I have enjoyed my time there, but now it is right for me to look at another club. "I have an arrangement with the chairman. When I signed my new contract, he said that, if another club came to sign me, they would consider the offer. I won't ask for a transfer, no. That would be disrespectful. I hope they can reach an agreement that is satisfactory for everyone. "Chelsea are a big club with an ambitious owner. They have great players and they have ambitions to fight for the title and win the Champions League. I want to stay in London. I am very happy here and so are my family." Despite not having a manager in place, Chelsea officials are in talks with highly-rated young Belgium international striker Romelu Lukaku, the 18-year-old striker's club Anderlecht revealed on Friday. Meanwhile, English club Newcastle United signed former France under-21 midfielder Sylvain Marveaux on a five-year contract from Rennes on Saturday. The 25-year-old will bolster Newcastle's midfield ranks following the departure of club captain Kevin Nolan to relegated West Ham. Marveaux follows West Ham's Senegal international striker Demba Ba in moving to St James' Park, where he will link up with compatriots Hatem Ben Arfa and Yohan Cabaye.
(CNN) -- Croatia midfielder Luka Modric will not his English Premier League club Tottenham. The Saturday quoted by English newspaper the Daily Mail as saying he wanted to join London rivals reach an agreement that is satisfactory for Friday. Meanwhile, English club Newcastle United