Takeover talks continue

11 Apr

Swansea have confirmed they are locked in talks with an American investement group which could result in a switch of ownership.


Swansea: Takeover talks continueSwansea: Takeover talks continue

Board members have discussed an agreement which would see American businessman Steve Kaplan and Jason Levien and their investment group acquiring a controlling interest in Swansea.

The club have said talks will continue with the aim of an agreement being ratified by the end of the season.

“Swansea City Football Club can confirm that it is working to finalise an agreement to bring in a new major shareholder,” said a club statement.

“The club will endeavour to keep supporters informed of developments, but no further comment will be made at this stage.”

The deal, which could be worth as much as £100million, will see chairman Huw Jenkins and vice-chairman Leigh Dineen remain in their management roles at the Liberty Stadium.

Jenkins said: “We believe we have a proposal which helps Swansea City progress both on and off the field.”

Kaplan is a shareholder in the NBA’s Memphis Grizzlies and Levien is managing general partner at Major League Soccer outfit DC United.

Levien has held roles at the Grizzlies and Philadelphia 76ers having previously brokered multi-million pound contracts as an NBA agent.

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