Swansea Owners Say They Never Saw Shareholders' Agreement When Buying Club

Premier League side Swansea City's owners said that they were not shown the "shareholders' agreement" when they bought a controlling stake in the club last summer, according to Dafydd Pritchard of the BBC. Swansea City Supporters' Trust "considered legal action over the deal." SCST claimed it "should have been consulted" when Americans Jason Levien and Steve Kaplan secured 68% of shares. Levien said that the stakeholders who sold their shares, such as Chair Huw Jenkins, "initially indicated there was no shareholders' agreement in place." But having been "made aware of the document's existence," Levien said that "he then asked to see it in order to discuss the matter with the Trust," which retained 21.1%. A Swansea City spokesperson said, "As a club we have moved on from the takeover process." Levien: "We approached the shareholders to acquire their shares and when we did that, we were not aware of any other arrangements binding the parties" (BBC, 4/10).