Reports over the last week indicated that the Blues were preparing to give up on signing the Croatian and turn their attentions to other targets.
However it now seems that they are set to offer Spurs £30 million straight or £27 million plus Yossi Benayoun in an attempt to land the midfielder.
Modric has already stated his desire to leave White Hart Lane this summer to sign for Chelsea as they can offer him Champions League football.
Andre Villas-Boas is desperate to bring some creativity to the his midfield at Stamford Bridge and has chased the 25-year-old all summer.
Spurs chairman Daniel Levy has so far resisted any attempts to cash in on the clubs prized asset refusing to accept anything below their asking price.
Manager Harry Redknapp was also unwilling to let Modric leave but is now coming round to the idea of selling him to generate funds to sign players.
Pocketing £30 million for the Croatian, who is unlikely to feature in Thursday’s Europa League game against Hearts, would certainly give him more than enough to secure his top targets.