Swansea hold talks with American investors over possible takeover
Saturday 9 April 2016 19:53, UK
Swansea have confirmed "talks are ongoing" with American businessmen Steve Kaplan and Jason Levien regarding the purchasing of a controlling stake in the club.
The pair have extensive sporting backgrounds in the United States.
Kaplan owns shares in NBA basketball team Memphis Grizzlies, while Levein is now managing general owner of MLS side DC United.
Levien has also held roles at the Grizzlies and Philadelphia 76ers having previously brokered multi-million pound contracts as an NBA agent.
He also serves as a key advisor to Inter Milan majority owner and president Erick Thohir, who purchased the Italian giants in 2013 and co-owns DC United with Levien.
The Premier League club said talks with American businessmen could be wrapped up by the end of the season.
"Swansea City Football Club can confirm that it is working to finalise an agreement to bring in a new major shareholder," confirmed a statement on the club's official website.
"Board members have discussed an agreement which would see Steve Kaplan, Jason Levien and their investment group acquiring a controlling interest in the club.
"Chairman Huw Jenkins and vice-chairman Leigh Dineen would remain in their management leadership roles within the club.
"Talks will continue with the aim of an agreement being ratified by the end of the season.
"The club will endeavour to keep supporters informed of developments, but no further comment will be made at this stage."
Speaking about the developments, Jenkins said: "We believe we have a proposal which will help Swansea City progress both on and off the field."
The announcement came shortly after Swansea had beaten Chelsea 1-0 on Saturday, ending Blues boss Guus Hiddink's 15-match unbeaten run since taking over from Jose Mourinho.
Gylfi Sigurdsson scored the only goal of the game at the Liberty Stadium after 25 minutes.
