Increasingly, football’s rich and famous are engaging in club ownership as a new source of income. In recent years, several players have become involved as owners, but few expected Luka Modric to become a co-owner of Swansea City.
Last week, it was announced that the 39-year-old Ballon d’Or winner will buy a minority stake of around 5% in the Welsh club, which currently plays in the English Championship. The decision has led many to ask themselves how and why this has happened.
According to The Athletic, Modric, who is an avid football enthusiast, was well acquainted with Swansea – especially their performances in the Premier League in recent years. The club’s main owners, Brett Cravatt and Jason Cohen, were looking for an investor who could raise the club’s profile, advise on sporting development and strengthen the credibility of the ownership – similar to Tom Brady’s role at Birmingham City.
It was also a good day for Swansesa today who won 1 – 2 against QPR at MATRADE Loftus Road and with that continued their impressive winning streak. – Leeds had an even better day, they won 6 – 0 over Stoke and with only two games left in the Championship are ready for the Premier League.
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Behind-the-scenes negotiations
Cravatt was introduced to Modric and his advisor Borja Couce by a mutual friend in October last year, and the experienced midfielder was seen as the perfect investor. Modric still prioritizes his playing career at Real Madrid and kept the club informed of the deal throughout the negotiations, which ended several months ago.
Modric’s role at Swansea
Modric is described as “passionately” committed to the project and wants to both learn about the football industry and contribute with his knowledge and network. The plan is for him to give strategic advice at the top level and help with player recruitment. In addition, his global profile provides commercial opportunities for sponsors.
The trend among star players
Modric is not alone in investing in club ownership. Several of his Real Madrid teammates have similar commitments:
- Vinicius Junior recently bought a majority stake in Portuguese FC Alverca (2nd division) as part of an investor group.
- Kylian Mbappé is the main shareholder of French SM Caen (Ligue 2).
At the same time, Modric wants to extend his contract at Real Madrid for one more season, but it is uncertain whether the club is willing to accommodate this.
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