Ryan Reynolds’ Wrexham may bask in the Hollywood spotlight, but Welsh rivals Swansea City are grabbing some star power of their own – Real Madrid legend Luka Modric is set to make his first move into club ownership with a minority stake.
The 39-year-old Croatian midfielder, under contract with the Spanish giants until mid-2025, will reportedly join American investors Andy Coleman, Brett Cravatt, Nigel Morris and Jason Cohen in Swansea’s ownership group, according to Welsh media.
“This is an exciting opportunity. Swansea has a strong identity, an incredible fan base and the ambition to compete at the highest level,” Modric said in a club statement.
“Playing at the highest level, I believe I can provide my experience to the club. My goal is to support the club’s growth in a positive way and help build an exciting future.”
Modric’s investment comes as Championship side Swansea navigates challenging financial waters.
They posted a pre-tax loss of 15.2 million pounds ($20.04 million) in the latest financial year – a modest improvement from a 17.9 million pound loss the previous year.
The club reported a turnover of 21.5 million pounds for the year ending June 30, 2024, the BBC reported.
In its financial statement, Swansea referred to the harsh economic realities of England’s second tier.
“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,” the statement read.
With significant costs associated with maintaining a stadium and two training facilities – and without “any immediate prospect of a redistribution agreement between the EFL and the Premier League” – Swansea noted it “will continue to be reliant on the support of its ownership group as the main source of funding.”
Modric’s arrival will sprinkle stardust on a Swansea side dreaming of a return to the Premier League and the financial windfall that comes with it – though that dream will have to wait.
“I am excited that Luka has come on board as an investor and co-owner,” Swansea CEO Tom Gorringe said. “His endorsement of our ambition and willingness to support us on our journey will be instrumental as we aim to continue to improve our results on and off the pitch.”
The Swans sit mid-table – 12th in the 24-team Championship – with 54 points, trailing pacesetters Leeds United and Burnley by 34 points. Both clubs are tied at the top with 88 points and just four games remaining.