Swansea City playersAmerican investors Jason Levien and Steve Kaplan have completed their takeover of Swansea City, subject to Premier League approval, the Welsh club said on Sunday. Swansea said the takeover was expected to be fully sanctioned by the Premier League in the coming weeks. A statement on the Swansea website (www.swanseacity.net) said the investment consortium led by the two businessmen had acquired a "controlling majority" of the shares. Levien is the managing general owner of Washington-based Major League Soccer side DC United while Kaplan is executive vice-chairman of the Memphis Grizzlies NBA basketball franchise in the United States. Several existing shareholders would have a smaller stake in and chairman Huw Jenkins, who remains in charge of the day-to-day running of the club in an executive role, will "maintain an ownership stake".

Source: Standard Digital June 05, 2016 09:45 UTC