Saturday, March 25, 2017

American duo complete Swansea takeover

SoccerNews in General Soccer News 5 Jun 2016

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American businessmen Jason Levien and Steve Kaplan have completed their takeover of Swansea City, the club confirmed on Sunday.

The duo will lead an investment consortium which has acquired a controlling majority of the shares, with several existing shareholders taking a reduced stake in the club.

While the size of Levien and Kaplan’s stake has not been announced, they were reported to be chasing 60 per cent.

Swansea City Supporters Trust’s 21.1 per cent stake is unaffected by the takeover, while chairman Huw Jenkins will continue to run the Liberty Stadium outfit.

Levien has experience in the football industry as the managing general owner of MLS side DC United, while Kaplan is the executive vice-chairman of the NBA’s Memphis Grizzlies.

The takeover is subject to approval from the Premier League.

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