Ryan Reynolds’ Wrexham might bask within the Hollywood highlight, however Welsh rivals Swansea City are grabbing some star energy of their very own – Real Madrid legend Luka Modric is about to make his first transfer into membership possession with a minority stake.
The 39-year-old Croatian midfielder, beneath contract with the Spanish giants till mid-2025, will reportedly be a part of American traders Andy Coleman, Brett Cravatt, Nigel Morris and Jason Cohen in Swansea’s possession group, in keeping with 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 mentioned in a membership assertion.
“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 funding comes as Championship aspect Swansea navigates difficult monetary waters.
They posted a pre-tax lack of 15.2 million kilos ($20.04 million) within the newest monetary 12 months – a modest enchancment from a 17.9 million pound loss the earlier 12 months.
The membership reported a turnover of 21.5 million kilos for the 12 months ending June 30, 2024, the BBC reported.
In its monetary assertion, Swansea referred to the cruel financial 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 assertion learn.
With vital prices related to sustaining a stadium and two coaching services – and with out “any immediate prospect of a redistribution agreement between the EFL and the Premier League” – Swansea famous 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 aspect dreaming of a return to the Premier League and the monetary windfall that comes with it – although that dream must wait.
“I am excited that Luka has come on board as an investor and co-owner,” Swansea CEO Tom Gorringe mentioned. “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 – twelfth within the 24-team Championship – with 54 factors, trailing pacesetters Leeds United and Burnley by 34 factors. Both golf equipment are tied on the prime with 88 factors and simply 4 video games remaining.
Source: www.dailysabah.com