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American investment group completes Swans' takeover

Abertawe

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60/70% for £100,000,000 apparently so the board members who put in to raise about £100,000 to keep us afloat have done alright for themselves. Bit shit that we're no longer solely owned by supporters but these guys seem okay. Huw Jenkins will stay on in his day to day role of chairman so good news there.

"Swansea City Football Club is delighted to confirm the takeover by Jason Levien and Steve Kaplan subject to the approval of the Premier League." "Jason and Steve will lead an investment consortium which has acquired a controlling majority of the shares with several existing shareholders also maintaining a smaller stake in the club."
"The shareholding of the Supporters' Trust remains unaffected.

"The agreement concludes a lengthy negotiation process and will see Huw Jenkins remain in an executive role and charged with the day-to-day running of the Club. Huw will also maintain an ownership stake in the club.

"Jason and Steve have vast experience in running sporting franchises in America. Jason is managing general owner of MLS side, DC United while Steve is the executive vice-chairman of the Memphis Grizzlies in the NBA.

"Both see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area.

"There is a huge level of respect for and a huge desire to build on the outstanding work of Huw Jenkins and his fellow board members who, alongside the Supporters' Trust, rescued the Swans and transformed them into a highly-respected Premier League club.

"All parties expect the takeover to be fully sanctioned by the Premier League in the coming weeks."
 

Stevencc

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A Welsh club owned by Americans in the English league system.

Swansea fans must be vomiting their guts up reading this news.
 

Liam_SWFC

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100M for 60% in Swansea City, christ almighty. Americans generally have a pretty shit record with clubs in this country but maybe these will be different.
 

Jarv

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What percentage does the supporters trust own in the club?

hope it works out for them. Swansea seem like an alright club
 

Abertawe

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21.1%. Not that it seemed to matter. The trust basically admitted they weren't consulted during the talks and had no knowledge as to what would or wouldn't happen.
 

joethegill

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Are there any Americans at all who've done well over here owning clubs?
 

silkyman

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Macclesfield Town/Manchester City. It's complicated.
21.1%. Not that it seemed to matter. The trust basically admitted they weren't consulted during the talks and had no knowledge as to what would or wouldn't happen.

Isn't that some sort of important threshold that no one can force people to sell shares until they own a certain amount? (As happened when the Glazers forces the last hold outs to sell up)
 

Liverlad

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Our American owners aren't too bad, we are in a better position now than when they bought us. But then our last American owners were a pair of clowns.
 

Pagnell

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Are there any Americans at all who've done well over here owning clubs?

Depends on your definition of 'done well'. As said above, Henry and co. have been decent for us, and we're certainly in a better position than when they bought us, or even when Moores sold us originally. The other thing is that the money used to buy the club isn't in the form of debt against the club's name, unlike when were bought by the odious Gillett and Hicks, and also with United and the Glazers. FSG don't mind spending money (albeit not stupid amounts, which is a good thing) and what we make from selling players seems to go back into the club rather than their pockets. They also care about keeping what the club spends at least partly in line with what it makes, unlike some others we could mention.

The opposite of all that is Villa with Lerner (although it started so well) and the aforementioned Gillett and Hicks. The Glazers are in a bit of a unique position, in that United make so much money as a brand that they can make millions from the club and still spend millions on purchases whilst paying back the debt. It's difficult to paint them as good or bad in that respect.
 

Jarv

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Isn't that some sort of important threshold that no one can force people to sell shares until they own a certain amount? (As happened when the Glazers forces the last hold outs to sell up)
25.1% is needed at 75.01% they can force the other to sell like the glazers did. unless the percentages have changed since.

I hate that the Glazers have saddled the club with the debt, at least it's coming down just the £322m now apparently....
 

Abertawe

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One line of thinking is that the Trust should sell it's share and bank the money in case it ever goes tits up, then use that to create a new club. I tell you, most fans are normally jumping for joy when taken over, whereas it's been doom & gloom with Swans' ever since this was announced. I don't really understand he negativity. Whilst it's a shitter we're no longer fan owned, it's a reflection of the times we're in. We need capital, there's only so long we can continue to punch above our weight. These guys aren't putting debt on the club and have some pretty big hitters in their consortium.
 

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