Modric becomes Swansea 'investor and co-owner'

Luka Modric won the Ballon d'Or in 2018 and has six Champions League titles to his name

Real Madrid and Croatia legend Luka Modric has become an "investor and co-owner" with a minority stake in Championship side Swansea City.

The 39-year-old midfielder has joined 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.

"This is an exciting opportunity. Swansea has a strong identity, an incredible fanbase, and the ambition to compete at the highest level," said Modric.

"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 to help to build an exciting future."

Luka Modric, then of Tottenham Hotspur, competes for the ball with Joe Allen in 2012 when Swansea City were in the Premier League - Allen is in his second stint at Swansea while Modric is a veteran at Real Madrid

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.

The Swans stated: "Luka's investment in the club is an endorsement of the club's ambition and vision. He will play a key role in helping the club garner global attention and progress both on and off the pitch."

Swansea chief executive Tom Gorringe added: "There is no better role model in the game for our players, from the academy right through to the first team.

"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.

"In our conversations, he has demonstrated his passion for the club, his knowledge of how we are performing, and a genuine passion to help us improve."

The Swansea City board collectively stated: "From our first discussions, it was clear that there was alignment on our visions and that Luka would be a real asset to our group."

Swansea 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.

They 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."