Swansea City Confirms US Takeover

Premier League football club Swansea City has confirmed a takeover by US businessmen Jason Levien and Steve Kaplan.

The deal is subject to Premier League approval and financial terms were not disclosed, but media reports suggest the pair have acquired a 60-70% controlling interest for £100m.

Currently, Kaplan is the vice chairman of NBA franchise Memphis Grizzlies and Levien, a former chief executive at the Grizzlies, is now managing general partner at Major League Soccer side DC United.

In a statement, the Welsh club confirmed that a number of existing shareholders would maintain a smaller stake in the club following the takeover, with Swansea City Supporters’ Trust retaining its 21% stake.

Huw Jenkins, current chairman at Swansea, will continue to hold an executive role and oversee the day-to-day running of the club.

It is expected that the takeover will be formally approved by the Premier League in the coming weeks.