Takeover of Swansea City completed

Swansea City Football Club have confirmed the takeover of the club by Jason Levien and Steve Kaplan subject to the approval of the Premier League. 

Levien and Kaplan will lead an investment consortium which has acquired a controlling majority of the shares with several existing shareholders also maintaining a smaller stake in the club. 

The agreement concludes a lengthy negotiation process and will see Huw Jenkins remain in an executive role and charged with the day-to-day running of the Club. Huw will also maintain an ownership stake in the club. 

Jason and Steve have experience in running sporting franchises in America – Jason is managing general owner of MLS side, sale DC United while Steve is the executive vice-chairman of the Memphis Grizzlies in the NBA. 

All parties expect the takeover to be fully sanctioned by the Premier League in the coming weeks.

The shareholding of the Supporters’ Trust remains unaffected.

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