April 15 – Luka Modric, who has graced the highest levels of the beautiful game with Real Madrid and Croatia, has now taken his first steps into club ownership by acquiring a minority interest in English Football League (EFL) Championship side Swansea City.
Modric, 39, joins an ownership group that includes Andy Coleman, Brett Cravatt, Nigel Morris, and Jason Cohen. The group purchased the shares from previous owners Jason Levien and Steve Kaplan, who sold their stakes last November.
The Swans were last in the Premier League during the 2017/18 season, but despite gaining 33 points they finished 18th and were relegated, spelling the end of a seven-season stint in the top division.
Like many clubs chasing promotion to the promised land of the Premier League, financial health often determines success. In their latest financial year, Swansea posted a pre-tax loss of £15.2m, representing an improvement of £2.7m from the previous year.
In a statement accompanying their annual financial report, 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.”
As Modric’s illustrious playing career approaches its final chapters, the Croatian still has unfinished business on the field. Real Madrid remain in contention in the UEFA Champions League (despite being 3-0 down from the first leg against Arsenal), sit second in LaLiga, and are in the final of the Copa del Rey.
Contact the writer of this story, Nick Webster, at moc.l1745029818labto1745029818ofdlr1745029818owedi1745029818sni@o1745029818fni1745029818