The Spurs midfielder has expressed his desire to leave White Hart Lane this summer, and has been strongly linked with a move to the former Premier League champions.
Chelsea have made two bids for the Croatia international but have so far been unsuccessful in securing his signature since Spurs are determined to keep hold of their playmaker.
Blues skipper John Terry said that while the 25-year-old would be an asset to Andre Villas-Boas's side, he believes Modric could handle the situation better.
"He's a world class player who is very difficult to play against," Terry told Sky Sports News. "He's very agile, very quick and a great finisher like we've seen over many years.
"I know there are problems. It's probably a little bit disrespectful towards Spurs. He has his own problems at the moment.
"We've got a good squad of players. If he comes he could certainly add to that."
Chelsea are currently preparing for the new Premier League campaign with a pre-season tour in Malaysia.