Thursday 29 September 2016

American consortium finally complete £110m takeover of Swansea

Phil Blanche

Published 21/07/2016 | 21:21

Huw Jenkins has new colleagues on Swansea's board
Huw Jenkins has new colleagues on Swansea's board

Swansea's takeover by an American consortium has been completed.

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The consortium led by Steve Kaplan and Jason Levien has bought a 60 per cent stake in the Premier League club.

The reported £110million deal, which received Premier League ratification on July 1, was completed on Thursday night after a press conference to announce the purchase earlier in the day was postponed because of a dispute between two minority shareholders.

In a joint statement on the official Swansea website, Kaplan and Levien said: "We recognise this club means so much to so many people and we take the responsibility as owners very seriously."

Confirmation of the deal comes a year after Kaplan and Levien, who have extensive experience of being involved in sports in the United States, first set their sights on making a Premier League investment.

The pair said they studied other top-flight clubs but felt investing in Swansea - who have been in the Premier League for the last five seasons - was the right choice.

"A number of people have asked us why the Premier League and why Swansea City? Quite simply we believe the Premier League is the greatest football league in the world," said the Kaplan and Levien statement.

"It has the greatest collection of players and, most importantly, it is the most competitive league, where on any given day any team in the league can beat another.

"We love the passion and the physical style of play.

"Premier League matches are always high drama, where it feels as if anything can happen - and often does! We are blessed to have an opportunity to be owners in such an amazing league.

"Once we decided on the Premier League, we looked for a club that possessed a particular style of football on the pitch that we believe will give rise to sustainable long-term success.

"We also wanted to be a part of a club that was at the very heart and soul of the community in which it plays. Over the course of a year we looked at a few clubs, but as we dug down deeper, our focus always returned to the Swans."

Press Association

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