Reports: American investors set to buy Swansea City
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Swansea City is set for a takeover by American investors Steve Kaplan and Jason Levien, according to multiple reports.
WalesOnline.com reports the deal could be worth up to £100m (roughly $141,250,000 USD). ESPN’s Marc Stein confirms that Kaplan and Levien are finalizing an agreement to purchase a controlling interest in the team.
Kaplan is the vice chairman of the Memphis Grizzlies and co-founder of Oaktree Capital Group. Levien, the managing general partner of DC United, is formerly the CEO of the Grizzlies and also serves in an advisory role with Italian club Inter Milan. The duo reportedly plans to retain Swansea chairman Huw Jenkins, who has kept the club in the Premier League for the past five seasons dating back to 2011–12.
A win over Chelsea on Saturday solidified Swansea’s place in the middle of the table, comfortably above the relegation zone. WalesOnline.com reports the new ownership plans to invest in improving the club’s stadium and infrastructure while also investing in the team and adding talent. The two sides have been in talks for over a year, with individual shareholders set to sell their stakes.
The deal would make DC United the third MLS franchise to share ownership with a Premier League team, with New York City FC and Manchester City and Colorado Rapids and Arsenal the other two pairings.
