However, it will not be a big problem because Ancelotti's rotation in the last 2 seasons has functioned to keep the squad good despite Modric's departure.
In the end, it will have an impact because Modric is one of the cogs of Madrid's attack but on the other hand, they can be fine and I am sure of that because Madrid's young players are currently very good in terms of play and they can be relied on to support the midfield to be even better. Jude's position could be flexible but I think the trio of Camavinga, Tchouameni and Valverde is still a very good option.
I don't think the departure of Modric won't give a serious impact. There are already enough top midfielders to replace Modric's role. Camavinga, Tchouameni, Bellingham, and Valverde are some players who have the same position as Modric. And we must realize that Modric is getting rarely to play full time recently. It indicates that Real Madrid no longer too depends on Modric anymore.
Sources:
- theathletic.com
- forbes.com