Sunday, April 22, 2018

Swansea supporters concerned by potential American investment

SoccerNews in General Soccer News 12 Apr 2016


Swansea City supporters have expressed concern about reported American investment in the club.

The club’s board confirmed last week that they were “working to finalise an agreement” over substantial American investment in the club, but the Swansea Supporters Trust has expressed concern over the deal.

Vice-chairman Jim White says the Trust has been given no information as to what the investment entails, despite owning a 21 per cent stake in the club.

“We have not been party – and are disappointed about that – to the same level of information as other shareholders have had, but from what we have seen, this is a share sale,” he told the BBC.

“We know the club needs to move forward, the trust is not against investment, we know the club needs to move on and progress.

“But we have not seen any details or further information around investment as such.

“No one doubts investment is needed, but look at Leicester City – they have a similar wage bill to what we at the Swans have.

“They have shown you can compete without billions of pounds.”

The proposed deal would reportedly see American businessmen Jason Levien and Steve Kaplan take a controlling stake in the club.

But former assistant manager Colin Pascoe, who worked under Brendan Rodgers during his time at the Liberty Stadium and then Anfield with Liverpool, said the board has been scared into selling out its shares in the club.

“It would have been a massive decision for Huw Jenkins to take to sell, they [the board] have achieved so much,” Pascoe told BBC.

“But to compete in the Premier League, you need the money, everything is inflated.

“This year may have frightened Swansea, things haven’t gone right on the pitch.

“Maybe they feel they don’t want to be in this position again, so they need investment.”

Should the deal go through, Swansea would join the likes of Manchester United, Liverpool and Aston Villa in having American owners.

The Glazer family (United), Fenway Sports Group (Liverpool) and Randy Lerner (Aston Villa) have all proven somewhat unpopular with their clubs’ supporters.

Under the Glazers, United have enjoyed success but have struggled since the retirement of former manager Alex Ferguson, Liverpool  have continued their Premier League title drought under John W. Henry’s FSG, and Lerner’s Villa look set to face a first-ever relegation from the Premier League.


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