Premier League side Swansea City confirmed it is "the subject of an advanced takeover bid by American duo Steve Kaplan and Jason Levien," according to Marc Stein of ESPN. Kaplan, the co-founder of Oaktree Capital Group and vice chairman of the NBA Memphis Grizzlies, and Levien, managing general partner of Major League Soccer club D.C. United, are finalizing an agreement "to purchase a controlling interest in the club." Kaplan and Levien, who partnered in Memphis when Levien served as the Grizzlies' CEO, have built a "strong relationship" with longtime Swansea Chair Huw Jenkins. The pair are "nearing completion on a deal that would give their investment group a majority share in the club" while keeping the "well-regarded Jenkins in place as CEO and their co-chairman." Swansea said in a statement, "Talks will continue with the aim of an agreement being ratified by the end of the season." Sources said that Kaplan and Levien are interested in expanding Swansea's current 20,520-seat stadium, "investing in the club's player and academy budget and growing their brand internationally." Jenkins: "We believe we have a proposal which will help Swansea City progress both on and off the field." If the proposed Swansea deal is finalized as expected, D.C. United would become the third MLS franchise to "share common ownership with a Premier League team," joining New York City FC (Man City) and the Colorado Rapids (Arsenal) (ESPN, 4/9). In London, Andrew Gwilym reported Swansea is close to finalizing a £100M ($141M) deal to "bring in new majority shareholders before the end of the season." The proposal would see Jenkins and Vice-Chair Leigh Dineen "remain in their management roles." Swansea City Supporters’ Trust would retain its 21% stake (LONDON TIMES, 4/10).
