Swansea City's £110m takeover by American investors agreed
Thursday 2 June 2016 00:39, UK
Swansea City's £110m takeover by American businessmen Jason Levien and Steve Kaplan has been agreed by all concerned.
After almost 12 months of negotiations, the final legal documents have been concurred and all those involved in the deal have received contracts for signature.
The two new majority shareholders Levien and Kaplan are expected to fly to London early next week to complete the Premier League's owners' and directors' test.
That test can take up to 10 days to complete, which would mean final ratification of Kaplan and Levien's purchase of a 60 per cent stake in the Swans could be made by June 10.
The deal is worth approximately £110m, and the group will invest between £30m and £50m in the Liberty Stadium, training facilities and playing staff.
Trending
- Arsenal vs Monaco preview: Gunners facing defensive injury crisis
- Juventus vs Man City preview: Foden could return but key quartet still out
- Man Utd latest: Talks opened for Paraguayan teenager Leon
- Saudi Arabia awarded 2034 World Cup as 2030 hosts also confirmed
- Rashford among Man Utd stars available for transfer
- England need revised 152 from 23 overs to beat South Africa LIVE!
- Transfer Centre LIVE! Van Dijk: 'No word' on Liverpool contract talks
- Friedkin Group on brink of Everton takeover - so what can we expect?
- Liverpool latest: Trent 'seduced' by Real Madrid move
- WSL: Goater takes temporary charge of Aston Villa as De Pauw leaves
It is thought the Supporters' Trust, which owns more than 21 per cent of the club, will remain as the second largest shareholders, and Huw Jenkins will continue in his role as the club's chairman.
Levien is managing general owner of the Major League Soccer club DC United and the former chief executive of NBA side Memphis Grizzlies.
According to reports in the US, Kaplan has been a minority owner of the Grizzlies and has wanted to own a professional sports team for a number of years.
