Swansea City takeover complete, club confirms
Swansea City’s takeover by Chairman Andy Coleman, and his partners Brett Cravatt, Nigel Morris, and Jason Cohen is now complete, the EFL Championship club have confirmed.
Through the agreement, Coleman, Cravatt and Cohen have acquired a 77.4% stake in Swansea, with Briton Morris assuming a 14% share.
The club was previously owned by Jason Levien and Steve Kaplan, who bought a majority stake back in 2016 that valued the Swans at around £100m.
Coleman initially joined Swansea as Chairman last year after acquiring ‘significant shareholding’ in the Welsh outfit.
As part of the takeover, the new owners have committed to investing £20m into the club, in order to cover operating costs for the ‘foreseeable future’, as well as strategic investments into the first team.
Four new US investors have meanwhile joined the club’s board, including Cohen, as well as Tyler Morse, George Popstefanov, and Chris Sznewajs.
Swansea said in a statement, ‘The new ownership group is committed to continuing to build around the Swansea Way football philosophy and ensuring alignment from the first team through the Academy.
‘There will be a strong emphasis placed on making data driven decisions that support the club both on the pitch and in its player recruitment efforts.
‘The club is creating a durable infrastructure to support a high-performing first team and Academy environment. And it is committed to developing a self-sustaining model for women’s and girls’ football that allows the game to grow and thrive while providing new opportunities for girls across Wales to play the game they love.’
Coleman said, “This change gives us an opportunity to reset and begin a new era for this great club.
“We are building a high-performing organisation that can power sustainable and durable success.
“There is no question that Swansea City’s best periods have come when there has been a strong connection between the club and our great fans.
“I’m hopeful that this reset gives us a chance to rekindle that connection, but I know we have work to do. It’s my mission to make Swansea City fans proud of their football club again.”
Elsewhere in English football, Bristol Rovers co-owner Hussain AlSaeed is set to acquire the 45% shares in the club, which are currently held by Wael and Samer al Qadi.
The League Two club say that the agreement will be finalised over an 18-month period.
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