Modric to become Swansea minority owner

Real Madrid and Croatia legend, Luka Modric is set to take a minority ownership stake in Swansea City.

The 39-year-old midfielder is to join Andy Coleman, Brett Cravatt, Nigel Morris and Jason Cohen among the ownership group.

That cohort purchased the shares of former majority owners Jason Levien and Steve Kaplan last November.

Modric’s move is believed to be his first into football ownership, and he will continue to play for Real Madrid, albeit with his current contract due to expire at the end of the 2024-25 season.

Modric will be involved at a Championship club which posted a pre-tax loss of £15.2m in the latest financial year.

That was a drop of £2.7m compared to the pre-tax loss of £17.9m posted for the previous financial year.

Swansea posted a turnover of £21.5m for the year ending 30 June, 2024.

In a statement accompanying their annual financial status, Swansea said: “The board acknowledges that whilst the magnitude of the operational loss is a product of the highly competitive environment within the EFL Championship in which the club currently competes, the club will continue to focus on achieving operational efficiencies in order to maximise the resources which can be invested into the first-team squad.

“The costs of operating a stadium and two training facilities are significant and are growing.

“In the absence of any immediate prospect of a redistribution agreement between the EFL and the Premier League, the club will continue to be reliant on the support of its ownership group as the main source of funding.”

(BBC Sport)