Veteran Luka Modric agrees 1-year contract extension with Real Madrid

Luka Modric has agreed to a one-year contract extension with Real Marid to play for the La Liga giants until 2025, The Athletic reported on Sunday.

The 38-year-old Croatian veteran will take a lower salary in his new deal. He has already accepted a smaller role on the field, but still made key contributions as Real won both the La Liga and the UEFA Champions League titles this season.

Having joined Real from Tottenham Hotspur in August 2012, Modric has made 534 appearances for the club and contributed 39 goals and 86 assists. He has helped them win four La Liga championships and six Champions League titles among other honors.

The midfield pair of Modric and Toni Kroos has been so integral to Real that, according to The Athletic, the club began extension negotiations with both earlier this year. Nonetheless, Kroos announced that he will retire after playing for Germany in this year's UEFA European Championship.

"See you next season, Madristas!" Modric said at Real's celebrations for winning the Champions league.

Modric, who turns 39 in September, has already surpassed Ferenc Puskas to become the oldest player to represent Real In La Liga. He also tied Paco Gento's record for winning six European Cup trophies. Now that he's set to play one more season for the club, he remains hopeful of setting more records.

Real will also reach a new deal with Lucas Vazquez, whose current contract will expire this summer, The Athletic reported. Like Modric, Vazquez has been playing a secondary role and often off the bench. As a product of the club's youth academy, Vazquez was promoted to the first team in 2015 and won four La Liga and five Champions League titles with Real.