By Paul Jones
Majority owners Jason Levien and Steve Kaplan are moving to sell their controlling stake in Swansea City.
Fellow shareholders Andy Coleman, Brett Cravatt, Nigel Morris, and businessman Jason Cohen are set to take over ownership.
The sale marks a major transition for the club, which has experienced very few highs but plenty of lows under Kaplan and Levien since they first bought in in 2016.
Any Coleman mentioned “It’s critically important for Swansea City to move on from the previous owners.”
He’s right. I do feel he has the clubs interests at heart. Paul Watson, Jason Levien & Steve Kaplan, all gone.
Ambition is critical. Our club is healing.
A new chapter. pic.twitter.com/NXSzcpVyUH
— Jordan (@JordanWebber96) November 7, 2024
Levien and Kaplan, both American speculators, originally acquired a 68% stake in Swansea when they were a Premier League club – a deal valuing the club between £100m and £110m.
They later increased their ownership, but have remained distant figures and their dwindling interest means they now aim to hand over the reins to current chairman, Coleman, along with Cravatt, Morris, and Cohen, a business partner of Cravatt.
It is understood Levien and Kaplan will take a major hit and walk away with substantial losses.
Coleman, who took on the chairman role in May 2023 with a “significant shareholding,” will assume a more prominent position in the club’s operations following the purchase.
Speaking on the transition, Coleman told The Athletic, “It is critically important for Swansea City to move on from the previous owners.
“I want to thank Brett Cravatt, Jason Cohen, Nigel Morris, and our partners for coming together to make that happen.
“Together we are bringing more than £20m directly into the club. This gives us a great foundation to drive Swansea City forward.”
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The fresh injection of £20m is expected to significantly bolster the club’s resources as they continue to compete in the Championship.
Under Kaplan and Levien’s leadership, the club struggled in the Premier League and then suffered relegation two years later, sparking frustration among fans around the club’s performance and transfer dealings.
The final agreement remains subject to approval by the Football League (EFL).
At present, Kaplan, Levien, Coleman, and another American investor, Jake Silverstein, collectively hold a 74.95% stake, while Morris has a 12.59% share.
The Swansea Supporters’ Trust holds a 9.42% stake, including a protected 5% share.
When Kaplan and Levien took over the club eight years ago, they vowed in a statement, “Priority number one, two and three is the performance of the team on the pitch.
“We will field a competitive team that will battle every week against the greatest teams and players in the world.
“It is our intent and goal to be a long-term fixture in the Premier League that competes on a consistent basis with some of the finest teams in the world.”
