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Swansea City Directors Could Reap Rewards As American Takeover Edges Closer

Premier League side Swansea City's American takeover is "edging closer to completion," and BBC Wales learned which club directors are selling or keeping their shares, according to Dafydd Pritchard of the BBC. U.S. businessmen Jason Levien and Steve Kaplan lead a consortium "that is in talks to buy a 60% stake." Swansea City Supporters' Trust will retain its full 21.1% stake. Club Chair Huw Jenkins and vice-Chair Leigh Dineen, who will stay in their roles, "will keep a reduced part of their current holdings," which are 13.2% and 5.3%, respectively. Hotelier, entrepreneur and lifelong fan Martin Morgan and wife Louisa "hold the biggest stake in the Swans" -- 23.7% in the name of their company OTH Ltd., though those shares could be divided and a small amount retained. N.Y.-based South Africa-born businessman Brian Katzen -- who was part of the consortium that helped save the club in '02 -- "will sell most of the 21.1% stake he has with business partner Jeffrey Crevoiserat." Rob Davies, who ran Liberty Properties -- title sponsor of the club's stadium, "will sell his 10.5% holding, while Dutch businessman John van Zweden, who owns 5.3%, will also sell up." Levien and Kaplan are understood "to be keen to buy Swansea's home ground, Liberty Stadium, which is owned by the local council, with a view to increasing its capacity." The deal is still expected to be completed by the end of the Premier League season (BBC, 4/20).

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