By 90Min
January 06, 2018

Swansea City's US owners have decided to halt negotiations about buying shares from Swansea City's Supporters' Trust until the season is over.

The Swans are currently bottom of the Premier League table, having won just four times from 22 Premier League games so far this season. They also recently appointed Carlos Carvalhal as manager after Paul Clement was sacked in December. 

Stu Forster/GettyImages

According to the BBC, their league position is a big factor behind talks stalling for the owners to buy more shares in the club.

The American owners currently have a 68 percent controlling interest in the club, which was purchased in 2016 by a consortium led by Steve Kaplan and Jason Levien. Despite the purchases, Swansea City's Supporters' Trust retained their 21.1 percent share of the Swans. 

Stu Forster/GettyImages

However, the Trust has proposed to sell almost half of the shares, in the region of 10.5 percent, which would have earned around £11m.

The money generated from the sale would have helped maintain a 'rainy day fund' in case of any future financial difficulties for the club. It would also protect the Trusts' standing if the club ever lost value. Relegation from the Premier League or dilution of shares are some of the examples where that could take place.  

Stu Forster/GettyImages

They also would have kept the director's seat on the board, a position held by Stuart McDonald. 

However, both sides have now agreed to table talks until the end of the current season. Both sides have also released statements on the matter, explaining the situation. Swansea City's Supporters' Trust has said that they intend to get opinions from their members before deciding their next move. 

Their released statement said: "As the mandate from Trust members to sell shares was given in July 2017 and there will now be a further delay in fulfilling that mandate, the Trust board can confirm that a further members' consultation will take place to ensure the Trust board is acting on the current views of its membership on how we proceed from this point."

Kaplan and Levien also released a statement, explaining that they will hold back on talks so that there is no trouble caused while Swansea City fight for their Premier League survival. 


They said: "The offer would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016. However, we understand there are still areas of concern amongst members of the Trust board and the membership as a whole over the offer.

"At this stage, we do not want the proposed share deal to become a source of antagonism between ourselves and the Trust, especially when the club finds itself in such a challenging position on the pitch. 

"Neither ourselves nor the Trust should allow any other issue to overshadow the club's fight to maintain its Premier League status and the upcoming transfer window."

Swansea's next game is at home in the Premier League against Newcastle next Saturday. 

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