Spanish media revealed the reason why Real Madrid did not extend Modric's contract

Luka Modric has said goodbye to Real Madrid.

This ended speculation that after 12 years he would leave the Royal Club, the place where he won five Champions Leagues, the Ballon d'Or and countless other trophies, both collective and individual.

Although, as in previous years, there was speculation for months about whether Modric would stay, Real decided not to extend his contract for another year.

As the Spanish newspaper Relevo writes, the main role, of course, was played by the club's president, Florentino Perez.

He held several meetings with Modric and Real decided to give more chances to young players.

Read too Read Modric's farewell letter to Real Madrid and the fans

"Modric's contract is expiring and Real is aware that they need to invest in new players," writes Relevo.

Modric thanked Perez, among other things, in his farewell letter.

"I want to thank the club from the bottom of my heart, especially president Florentino Perez, my teammates, coaches and everyone who has helped me in any way throughout these years," Modric wrote. /Telegraph/