Luka Modric is preparing to make his first venture into club ownership with a minority investment in Welsh club Swansea City, according to reports from Welsh media outlets. The 39-year-old Croatian international will join American investors Andy Coleman, Brett Cravatt, Nigel Morris and Jason Cohen in the Championship side\'s ownership structure.
Modric, who remains an active player with Real Madrid where his contract runs until mid-2025, has made 29 LaLiga appearances this season and featured in 13 Champions League matches.
The investment comes at a crucial financial juncture for Swansea, who recently posted a pre-tax loss of £15.2 million ($20.04 million) for the latest financial year. While this represents a slight improvement from their £17.9 million loss in the previous period, the club\'s financial position remains challenging.
According to BBC reporting, Swansea recorded a turnover of £21.5 million for the year ending June 30, 2024. The club\'s financial statement acknowledged the difficult economic environment of England\'s second tier, noting that \"the club will continue to focus on achieving operational efficiencies\" while recognizing their losses reflect \"the highly competitive environment within the EFL Championship.\"
Swansea\'s financial documents further detailed the significant costs associated with maintaining their stadium and two training facilities. Without \"any immediate prospect of a redistribution agreement between the EFL and the Premier League,\" the statement indicated they \"will continue to be reliant on the support of their ownership group as the main source of funding.\"
Modric\'s investment brings star power to a club competing in the same country as Wrexham AFC, the Welsh team famously owned by Hollywood actors Ryan Reynolds and Rob McElhenney. However, unlike Wrexham\'s rapid rise through the English football pyramid, Swansea\'s immediate prospects for promotion appear limited.
The Swans currently sit 12th in the 24-team Championship with 54 points, trailing league leaders Leeds United and Burnley by 34 points with just four matches remaining in the season. Swansea previously competed in the Premier League from 2011 to 2018 before being relegated to the Championship.
Modric\'s move into ownership represents a growing trend of active and recently retired players investing in football clubs, bringing not only financial support but valuable football expertise and international connections to organizations looking to elevate their competitive standing.
Via ESPN