Real Madrid and Croatia legend Luka Modric is set to take a minority ownership stake in Swansea City, marking a significant transition in his illustrious career. The 39-year-old midfielder, who has dazzled fans with his performances on the pitch, is now looking to extend his influence into the world of football ownership.
Joining Modric in this new endeavor are notable figures such as Andy Coleman, Brett Cravatt, Nigel Morris, and Jason Cohen, all part of the existing ownership group that made headlines last November when they purchased shares from former majority owners Jason Levien and Steve Kaplan. This consortium has been keen on reshaping the club’s future, and with Modric onboard, it adds a layer of star power and expertise from an individual who has experienced the highest levels of football.
This move into ownership signals Modric’s first venture into the realm of football management, and while he takes on this new role, he will continue to play for Real Madrid, where his current contract is set to expire at the end of the 2024-25 season. This unique situation allows Modric to maintain his playing career while also assuming a stake in a club that is striving to improve its financial standing and competitive edge.
Swansea City, competing in the Championship, recently reported a pre-tax loss of £15.2 million for the latest financial year. This figure represents a slight decline compared to the previous year’s loss of £17.9 million, indicating ongoing challenges for the club. With a turnover of £21.5 million for the year ending June 30, 2024, the people behind the club are clearly committed to navigating these financial hurdles in pursuit of success.
In an official statement regarding their financial situation, Swansea acknowledged that the size of the operational loss is largely reflective of the highly competitive nature of the EFL Championship. The board expressed its commitment to enhancing operational efficiencies, which is crucial for maximizing resources that can be reinvested into the first-team squad. The statement further highlighted the substantial and growing costs associated with operating a stadium and maintaining two training facilities, underscoring the financial strain faced by many clubs in the league.
With no immediate prospects for a redistribution agreement between the EFL and the Premier League, the reliance on the support of the ownership group becomes even more critical as a primary source of funding for the club’s ambitions. This new partnership with Luka Modric could very well influence Swansea’s future both on and off the pitch, as they seek to stabilize and elevate their standing in the footballing world.
World of sports 
Leave a comment