Swansea City Denies Reports Of Vijay Mallya Preparing £110M Takeover Bid

Premier League side Swansea City sources described reports in India that Force India Formula 1 team Owner Vijay Mallya is ready to spend £110M ($143M) on acquiring the club as "absolute nonsense," according to Andrew Gwilym of WALES ONLINE. Mallya, who also owns Indian Premier League cricket side Royal Challengers Bangalore, was said to have been "ready to make an offer" for Swansea City. The reports came exactly a year after Steve Kaplan and Jason Levien's consortium completed its takeover of the club. The pair have "repeatedly dismissed suggestions they will only be at the club for the short term," and there is reportedly "no desire to sell the club after just 12 months." The Indian authorities are "attempting to extradite Mallya" from the U.K. He "faces charges in his homeland including fraud." He has "denied all charges against him" (WALES ONLINE, 7/21).