The American takeover of Swansea City worth about £100M ($145M) "has been completed, subject to Premier League approval," according to Dafydd Pritchard of the BBC.
Jason Levien and Steve Kaplan, experienced in running U.S. sports teams, "lead a consortium which has bought a controlling stake of 60% in the club."
They "must pass the league's test for prospective owners to make it official." The club said,
"Both see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area." Levien is the managing general partner of Major League Soccer side DC United, while Kaplan is principal of Oaktree Capital investment fund and vice-chair of NBA franchise Memphis Grizzlies. They 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" (
BBC, 6/5). REUTERS' Alan Baldwin reported Swansea said that the shareholding of the club's Supporters' Trust, which has a 21% stake and a representative on the board, "would remain unaffected." Several existing shareholders "will retain smaller stakes" and Chair Huw Jenkins, who remains in charge of the day-to-day running of the club in an executive role, will "maintain an ownership stake." The Supporters' Trust said in an earlier statement that it "had been assured the purchase of shares by the new owners would be paid for from the consortium's own funds and there was no intention to add new debt to the balance sheet" (
REUTERS, 6/5). In London, Riath Al-Samarrai reported Kaplan "is understood to be key to the financing of the takeover and Levien is the broker who led the negotiations." Three shareholders have sold up completely -- Jeffrey Crevoiserat (who shared 21.1% with Brian Katzen), Rob Davies (10.5%), John van Zweden (5.3%). It is currently unclear if vice-Chair Leigh Dineen "has sold his stake entirely" (
London DAILY MAIL, 6/5).
