Amer­i­can con­sor­tium com­plete Swansea deal

7 Days in Dubai - - SPORT -

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.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.