Why Real Madrid midfielder Luka Modric is now a co-owner at Swansea City

Increasingly, the rich and famous at the top of football are entering into a new echelon of riches these days, as some of the highest-earning athletes in the game. Recent years have seen a number of players get involved in club ownership, but few saw Luka Modric becoming a co-owner at Swansea City.

Last week it was announced that the 39-year-old Ballon d’Or winner would be purchasing a minority stake in the Welsh side, who are currently in the English Championship. It has left many asking how and why this has come come about. The Athletic say that Modric has acquired a stake of around 5%, and as an avid football fan, was well aware of Swansea, and in particular their exploits in the Premier League in recent years.

Owners Brett Cravatt and Jason Cohen were looking for an investor to increase the profile of the club, advise on improvements on the pitch, and lend credibility to their ownership, a la Tom Brady at Birmingham City. Cravatt was introduced to Modric and his advisor Borja Couce by a mutual friend last October, and was seen as the perfect investor. The veteran midfielder is keen to prioritise Real Madrid, where he wants to continue playing, and kept Los Blancos informed of the deal throughout negotiations, which were closed some months ago.

Modric is described as ‘passionate’ about the project, keen to learn about the football business and also to help Swansea with his football knowledge, and his connections in the game. The plan outlined initially for Modric’s involvement is for him to provide advice at the top level, and to help out with player recruitment. The profile Modric brings in terms of commercial opportunities for sponsors is another benefit of his involvement.

Already some of Modric’s teammates are involved in club ownership at Real Madrid. Vinicius Junior recently acquired a majority stake as part of an investment group in Portuguese second-tier side FC Alverca, and Kylian Mbappe is a majority shareholder in Ligue 2 side SM Caen. Modric is keen to extend his contract at Real Madrid for another season, although there are doubts about whether the club is willing to do so.