Swansea City’s US Takeover Approved By Premier League

The Premier League has ratified a proposed deal for American investors Steve Kaplan and Jason Levien to purchase a controlling interest in Swansea City, the club have announced.

Swansea chairman Huw Jenkins said the Welsh club were “extremely pleased” with the outcome of the Premier League meeting.

The Swansea City Supporters’ Trust, meanwhile, will retain a shareholding of just over 21 percent.

In a joint statement, Kaplan and Levien said: “We are delighted that the Premier League has ratified our deal to buy a controlling interest in the club.

“We had a very positive meeting yesterday, and we appreciate the fact the Premier League has moved so swiftly to give us the green light to move forward.

“There are still a few minor loose ends to tie up on the deal, which we envisage will be completed before the end of the month.

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“In the meantime, we are both extremely excited to be part of a new era for Swansea City and working with Huw Jenkins and the Supporters’ Trust in taking the club forward.”

Jenkins added: “We are all extremely pleased with the outcome of the Premier League meeting.

“It will now enable us to move forward fully focussed and put everything in place for the start of another very important Premier League season.

“Everyone at the club is looking forward to working together with Steve and Jason for what will be a new and exciting chapter in the club’s proud history.”

Kaplan, the co-founder of Oaktree Capital Group and vice chairman of the NBA’s Memphis Grizzlies, and D.C. United managing general partner Levien completed the takeover last month.

A consortium fronted by Kaplan and Levien has been in talks over acquiring control of Swansea since last year, with news of the proposed change of ownership emerging in early April this year.

The Americans have reportedly acquired around 60 percent of the Premier League club, while it is thought that the proposed deal values the club — who have spent the last five seasons in the top flight of English football — at around £110 million.

The deal could see the expansion of the 21,000-capacity Liberty Stadium, the second-smallest in the Premier League, as well as investment in the club’s training facilities and playing staff.

 

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18 Comments
  1. Sharks says

    I don’t think this is good

  2. topson says

    can dis be real?

  3. Ogunleke teslim opeyemi says

    So that mean they wont play in premier league or what? Please enlighten me.

  4. B.J says

    That’s good

  5. Dotman says

    No teslim,dm don sell dclub to anoda person

  6. Sammie says

    bad ideal..

    1. Chikels says

      Who tell you say nah bad Idea

      1. Sam says

        lol, he typed bad ideal, not idea , lol

  7. Liam says

    Eh! Swansea?
    I will even prefer Watford

  8. Tosin says

    I.e Swanse city now a*ded to EPL but, will they play this season?

  9. Abu says

    Congratulations

  10. olan says

    Welcome

  11. Deji says

    Hmm highly congrats

  12. amazing says

    There would be a change of ownership

  13. samuel says

    Hmmn

  14. Chikels says

    I think it will go well for them

  15. abbey says

    Good one

  16. Sam says

    congratulations tho, good luck

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