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Swansea City's new American investors "have had to postpone a grand unveiling of their plans for the Premier League club because of a legal dispute between two shareholders," according to Paul Abbandonato of WALES ONLINE.
Jason Levien and Steve Kaplan "had travelled from the United States to south Wales to put pen to paper" on the £100M ($110M) takeover and were due to be formally announced as the Swans' new owners at a 4pm press conference on Thursday afternoon.
But after the media gathered at the Liberty Stadium to report the news, the matter "kept being strangely delayed." In the end, after almost a full three-hour wait, reporters were told the press briefing "was suddenly off." The issue "centres around legal complexities involving two of the club's shareholders who have been negotiating with the Americans."
They are said to be Brian Katzen, from South Africa, and his business partner Jeffrey Crevoiserat. Between them they hold a 21.1% stake in the Swans. It is believed the legal issue "is a minor one, more a question of dotting 'i's' and crossing 't's' between the lawyers involved for the two parties" (
WALES ONLINE, 7/21).
