Modric becomes Swansea 'investor and co-owner'

Luka Modric, the Real Madrid and Croatia legend, is now an investor. He has a minority stake in Swansea City, a Championship side.

The 39-year-old midfielder joins Andy Coleman, Brett Cravatt, Nigel Morris, and Jason Cohen in ownership. This group bought shares from former majority owners Jason Levien and Steve Kaplan last November.

Modric expressed excitement about this opportunity. He said Swansea has a strong identity and an incredible fanbase. He believes he can help the club compete at the highest level.

"My goal is to support the club's growth positively," Modric added. He aims to help build an exciting future for Swansea.

This investment marks Modric's first venture into football ownership. He will continue playing for Real Madrid until his contract ends in 2025.

Swansea stated that Modric's investment shows their ambition and vision. They believe he will help attract global attention to the club.

Chief executive Tom Gorringe praised Modric as a role model for players. His support will be crucial as they aim to improve results on and off the pitch.

Gorringe noted Modric's passion for the club and knowledge of its performance. The board agreed that Luka would be a valuable asset to their group.

Swansea reported a pre-tax loss of £15.2 million for the latest financial year. This was £2.7 million less than the previous year's loss of £17.9 million.

They had a turnover of £21.5 million for the year ending June 30, 2024. The board acknowledged that operational losses are common in competitive environments like the EFL Championship.

They plan to focus on operational efficiencies to maximize resources for the first team. Operating costs for their stadium and training facilities are significant and increasing.

Without immediate prospects for funding agreements between leagues, they rely on ownership support as their main funding source.