Business

Swansea hopes for takeover by US owners by end of season

Posted April 09, 2016 7:00 am

The Associated Press

SWANSEA, Wales (AP) - English Premier League club Swansea has confirmed it was in talks on a potential takeover from American investors.

The club was "working to finalize an agreement to bring in a new major shareholder," it said in a statement on its website on Saturday.

Swansea hopes by the end of the season to have a deal in place with Steve Kaplan, Jason Levien, and their investment group.

Kaplan is a minority owner of the NBA's Memphis Grizzlies. Levien is a part-owner of MLS team DC United. They have recently also been trying to buy a stake in the NBA's Minnesota Timberwolves.

Swansea chairman Huw Jenkins and vice-chairman Leigh Dineen say they will remain in their club roles.

"We believe we have a proposal which will help Swansea City progress both on and off the field," Jenkins said in the statement.

Swansea was owned by a number of parties, including the Swansea City Supporters Trust. The potential stake that the investors were looking to buy was not reported.

Article Comments

Article Categories
Business Content Providers Nation and World News

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.