Swansea reveal American investor talks

Photo credit: AFP

Photo credit: AFP

Swansea City revealed on Saturday they are in talks with American businessmen Stephen Kaplan and Jason Levien, who are seeking to purchase a controlling stake in the Premier League club.

Kaplan and Levien, both of whom have extensive sporting experience in the United States, are heading up an investment group that hopes to take charge by the end of the season.

“Swansea City Football Club can confirm it is working to finalize to bring in a new majority shareholder,” Swansea said in a statement.

British press reports said the deal could be worth up to £100 million ($141.3 million, 124 million euros).

Swansea chairman Huw Jenkins will reportedly hold onto his role in the event of a takeover, as will vice-chairman Leigh Dineen.

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

Kaplan is a shareholder in NBA outfit the Memphis Grizzlies, while Levien is a senior figure at Major League Soccer team DC United.

Levien has held roles at the Grizzlies and Philadelphia 76ers and also works as an advisor to Inter Milan majority owner and president Erick Thohir, who co-owns DC United with him.

The news emerged shortly after Swansea won 1-0 at home to Chelsea to move 13 points clear of the relegation zone with five matches of the season remaining.

SEE MORE: Swansea and Guidolin owe a huge debt of gratitude to Alan Curtis

The Welsh club were promoted to the Premier League via the Championship play-offs in 2011, ending a 28-year wait for top-flight soccer.

They have finished 11th, ninth, 12th and eighth in the top tier and won the League Cup in 2013, beating fourth-tier Bradford City 5-0 in the final to claim the club’s first major honor.

But they looked in danger of relegation earlier this season and sacked manager Garry Monk in December after a run of one win in 11 league games, with Italian coach Francesco Guidolin taking over.

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  1. VicBklyn April 9, 2016
    • Christopher Harris April 10, 2016

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