Swansea City chairman Andy Coleman and partners complete takeover

Swansea chairman Andy Coleman and his partners have completed their takeover of the Championship club by buying up the shares of Steve Kaplan, Jason Levien and Jake Silverstein.

Coleman and fellow investors Brett Cravatt, Nigel Morris and Jason Cohen now control more than 80 per cent of Swansea’s shares after snapping up the 74.95 per cent stake which had been held by Kaplan, Levien and Silverstein.

The deal will see the new owners inject more than £20million into the club which they say will cover the operating costs of the club for the foreseeable future and enable strategic investments in the first team.

Excited

Coleman said:”I’m very excited for Swansea City and our fans to announce this new majority ownership and new investment. This change gives us an opportunity to reset and begin a new era for this great club.

We are building a high-performing organisation that can power sustainable and durable success. But there are no shortcuts on this journey. Football doesn’t owe us anything. We’ve got to earn our chance, and we’ve got to take it.

There is no question that Swansea City’s best periods have come when there has been a strong connection between the club and our great fans. I’m hopeful that this reset gives us a chance to rekindle that connection, but I know we have work to do. It’s my mission to make Swansea City fans proud of their football club again.”

Following the ownership change, the club has also confirmed the addition of four new investors to the board with Jason Cohen, Tyler Morse, George Popstefanov, and Chris Sznewajs joining.

‘New era’

Paul Meller, Swans Trust Supporter Director added: “On behalf of the Supporters’ Trust I’m delighted to see this new ownership structure all formally ratified and announced after many weeks of hard work behind the scenes to ensure everything went through as anticipated.

“We welcome Jason Cohen, Tyler Morse, George Popstefanov and Chris Sznewajs to the Board and feel sure they will help usher in a positive new era for the club alongside co-owner and club chairman Andy Coleman.

The Trust will be releasing a statement of our own later today. In the meantime we are all looking forward to Sunday’s game against high flying Leeds United as I’m sure are all our supporters”

Levien and Kaplan bought a controlling stake in the club in 2016, valuing Swansea at more than £100million, although the club suffered relegation from the Premier League two years later.