Toni Kroos
Real Madrid midfielder Toni Kroos AFP / JORGE GUERRER

Spanish giants Real Madrid could be ushering in a new era this summer if they are not able to secure contract extensions with Toni Kroos and Luka Modric. Furthermore, the signing of Borussia Dortmund star Jude Bellingham will also depend on whether or not the two midfield geniuses will stay.

Last summer, the departure of Carlos Casemiro for Premier League side Manchester United already proved to be a major blow for Real Madrid. The Brazilian's departure broke up their golden midfield trio, and Kroos was one of the first to admit that he was emotional over his former teammate's decision.

However, they have since moved on and both Kroos and Modric have continued to rule over the Real Madrid midfield. Even Barcelona manager Xavi Hernandez recently spoke about their skills, saying that it is nearly impossible to take the ball away from the duo.

However, the two veterans will see their contracts expire at the end of the current campaign. Kroos has always been vocal about his desire to retire as a Real Madrid player, and so far he has not been speaking much about his renewal plans.

Luka Modric
Luka Modric Dan Istitene/Getty Images

It is understood that the German is taking his time to decide on whether he wants to continue playing beyond 2023. He has long since retired from international duty, and it won't come as a complete shock if he decides to hang up his boots on his club career in June.

Meanwhile, Modric has spoken about his desire to renew, but he has also said that he still wants to prove that he deserves a new contract. He does not seem to be as keen to call time on his career as Kroos, but he could also be tempted to ply his trade elsewhere. There are no concrete reports about external offers, but a player of the Croatian's caliber will not be short of suitors if he makes the slightest indication of a desire to play elsewhere.

Real Madrid is understood to be keen on offering extensions to the two stars, but the club is known to have a policy of only offering 12-month deals to players over 30 years old. That might prove to be sufficient, but no one knows if either Kroos or Modric may want to secure a more long-term future.

If either or both players leave, the door will be wide open for Bellingham. The England international has been linked with Los Blancos for the past year, but they are facing competition from Liverpool FC.

The Bundesliga side is also believed to be determined to capitalise on the in-demand midfielder. If he is to leave the Signal Iduna Park, they are expecting interested suitors to meet their €150 million (£132.7m) valuation of the teenager.

According to Diario AS, Real Madrid are interested but they won't make any formal offers until they finalise the futures of Modric and Kroos. So far this season, the two players have been nearly indispensable for Carlo Ancelotti. Whenever either of them is rested, the squad is visibly playing with a handicap.

While the club will want to avoid overcrowding the midfield, bringing in reinforcements while the two players are still around may also help ease them into a smoother transition. However, Bellingham may not be too keen on coming in only as a potential substitute to Kroos or Modric.

Apart from the futures of the players, the upcoming transfer window and Real Madrid's long-term development plan will also rely heavily on who will be their manager next season. Carlo Ancelotti has a contract until 2024, but everyone knows that means nothing when the team fails to win trophies.

Although they are still fighting across three fronts at the Champions League, La Liga and Copa del Rey, rumours are already swirling about Ancelotti's possible departure. They recently lifted the Club World Cup trophy, but there is no guarantee that the Italian will stay if they fail to win more silverware. If he leaves, then a different manager may have entirely different plans for the club.