Some of the most high-profile players of the 21st century have opted to purchase stakes in clubs rather than committing to full-time coaching, a marked difference from previous generations.
Perhaps Terry would aim to follow in the footsteps of another former team-mate, Cesc Fabregas, by taking on a dual role.
The Spaniard bought shares in Serie A side Como in 2022, before being made manager in 2023.
Terry’s former England team-mate David Beckham is a co-owner of MLS side Inter Miami, having negotiated the rights to founding a club as part of the contract he signed when he joined Los Angeles Galaxy in 2007.
Beckham is also a part owner of Colchester’s League Two rivals Salford City, alongside Gary and Phil, Neville, Nicky Butt, Ryan Giggs, and Paul Scholes.
Others including Ronaldo (Real Valladolid), Kylian Mbappe (SM Caen), and Gerard Pique (FC Andorra), all of whom are majority shareholders in clubs based in countries where they spent significant portions of their careers.
The likes of Luka Modric (Swansea), Thierry Henry (Como), Zlatan Ibrahimovic (Hammarby), and Cristiano Ronaldo (Almeria) have also become part owners of clubs outside the European elite in recent years.
When former players invest in clubs, they are often buying a much smaller amount of shares and stumping up far less than their business partners.
Adding a household name from within the game to a group of investors can lend star power and authenticity to a takeover.
“The opportunity has been created for ex-pros to stay in the game in a way that wasn’t possible before, because of the way football has evolved on a commercial level,” says Dan Plumley, professor of sports finance at Sheffield Hallam University.
“There are clear positives to combining business acumen with people who have lived and breathed football – it gives you a diverse range of opinions.
“Being part of a consortium also spreads the financial risk across the group of investors, rather than it all being on one owner.
“History tells us you don’t make money out of owning football clubs, so there can be wider leverage for the former pro too – it can be a way for them to take on different roles in football, learn from them, and make professional progress.
“If you invest lower down the pyramid and build am project that you’re a part of. That can return some gain depending on how far up the football ecosystem you can take it.”
The excitement when a former star joins forces with a lower league club can pay almost immediate dividends.
“This takeover hasn’t even been confirmed yet but you can see the story is all across the media and there is extra attention on the club already.
“As the game continues to move forward at pace in a business sense, we can expect to see more of this kind of model in the future.”