American Investors Complete Takeover of Premier Club Swansea City
Swansea City, a Welsh football club, have been in the English Premier League since 2011
- Associated Press
- Updated: June 05, 2016 08:32 PM IST
Highlights
- American investors complete takeover of Swansea City
- The deal is yet to be sanctioned by the Premier League
- Swansea, a Welsh club, have been in the Premier League since 2011
American investors have completed their takeover of English Premier League club Swansea City.
Swansea City said on Sunday the consortium "has acquired a controlling majority of the shares" of the club - reported in the British media to be 60 percent - following a lengthy negotiation process.
The consortium is fronted by Steve Kaplan, a minority owner and executive vice-chairman of the NBA's Memphis Grizzlies, and Jason Levien, a part-owner of MLS team DC United.
The deal is yet to be sanctioned by the Premier League. Financial details weren't disclosed.
Swansea said in a statement that Kaplan and Levien "see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area."
Swansea have been in the Premier League since 2011.