How Much Is Fair For Luka Modric?

Chelsea have upped their bid to Tottenham for Luka Modric. We're past the £22 million bid and up to £27 million. With Modric (or his agent) now fighting with Daniel Levy about what was said or wasn't said or promised or wasn't promised, it looks like Spurs supporters will have to think about the possibility of Luka leaving. It may or may not happen, but at this point it looks like a matter of price. So, what is a fair price for Chelsea to pay for Luka?

First, let's take a look at some of the other transfers this summer. Arsenal recently bought Gervinho from Lille for £10.5 million. Building up, Manchester United paid £18 million for Ashley Young and Liverpool paid £22.5 million for Jordan Henderson.

In rumored transfers or at least ones where numbers were thrown around, Manchester City bid £24 million on Samir Nasri and a £27 million bid for Cesc Fabregas was rejected. The buyout on Radamel Falcao's contract is £26.5 million and Alexis Sanchez will likely cost at least £30 million.

What does this tell us? If Luka has already draw a £27 million bid he is pretty damn good. Of course, we already knew that. We've watched him long enough to know that he's an exceptional footballer, but a £27 million bid indicates that he is worth at least the equal or more than the above players to one of the world's top clubs. That alone is quite a statement.

The real question is what is he worth to Spurs? Players don't really have a universal valuation. They are worth different amounts to different teams. Modric is worth more to Spurs than he is to Chelsea. He is the class of the team and Tottenham would struggle mightily to replace him. There aren't many Luka Modric's out there and attracting them to White Hart Lane is tough. Chelsea can go get another of those Luka Modric's or at least one close.

If Spurs are going to sell Modric at their price, Chelsea will have to buy him at a price above what he's really worth to them. It wouldn't be the first time Chelsea or another big club paid more for a player than he is worth to them so it's not out of the realm of possibility. One thing that does play into Spurs' hands though is the injury to Michael Essien, which makes the addition of a midfielder more important for Chelsea than before.

Taking all of this into consideration, what price does Spurs value Modric at? What price does Chelsea value Modric at. Most importantly, what price in the middle of those two is a fair price for Tottenham to give in and sell Modric to Chelsea at? Is it the £27 million already offered? Is it the £32 million some thing he will be sold for or is it well above that?