American consortium complete Swansea deal
The takeover of Swansea by an American investment group has been completed. The American consortium - fronted by Jason Levien and Steve Kaplan - has been in talks over acquiring control of Swansea since last year, with news of the proposed change of ownership emerging in early April. It is understood that the Americans have acquired around 60 per cent of the Premier League club, who yesterday confirmed the completion of the takeover. Levien and Kaplan, who both have extensive experience in American sports, must now pass the Football Association’s owners’ and directors’ test before the deal can be officially ratified. Levien is the managing general partner of Major League Soccer side DC United, while Kaplan is vicechairman of NBA side the Memphis Grizzlies. It is understood that the deal values the club at around $160 million. The deal could see the expansion of the 21,000capacity Liberty Stadium, as well as investment in the club’s training complex and playing staff. Swansea chairman Huw Jenkins will remain at the Liberty Stadium in an executive role.