Tottenham chairman Daniel Levy has told Luka Modric that the club will not consider selling him to Chelsea for any price.
On his return from holiday, Modric was summoned to a crunch meeting with Levy and, over a 40-minute period, told that his future lies with Tottenham, where he has five years left on his contract.
"We had a very good conversation and, as I've said previously, Luka Modric will not be sold," Levy told Sky Sports. "There's no further discussion on it. He was on holiday, we've now had the conversation and he understands our position.
"He understood. I'm sure once he's back with his team-mates everything would be fine. A higher bid would make no difference. This isn't about money - we're not selling our best players."
Spurs have already rejected one bid of £22 million for Modric from Chelsea, with the Croatia international having made clear he would like to join the Blues in order to play Champions League football next season.
Before the meeting with Levy, Modric claimed that "anything is possible" when questioned over a move to Stamford Bridge - but his options have now narrowed significantly.
News of Spurs' determination to hold onto the midfielder also deals a blow to Manchester United, who are in the hunt for a creative midfielder following the retirement of Paul Scholes at the end of last season.
Modric, who signed for £16.6 million from Dinamo Zagreb in 2008, penned a new deal at the club just months ago.