Swansea hopes for takeover by US owners by end of season
SWANSEA, Wales (AP) — English Premier League club Swansea has confirmed it is in talks on a potential takeover from American investors.
In a statement on its website on Saturday, the club says it is "working to finalize an agreement to bring in a new major shareholder."
Swansea hopes by the end of the season to have a deal in place with Steve Kaplan, Jason Levien and their investment group.
Kaplan is a minority owner of the NBA's Memphis Grizzlies. Levien is a part-owner of MLS team DC United. They have recently also been trying to buy a stake in the NBA's Minnesota Timberwolves.
Swansea chairman Huw Jenkins and vice-chairman Leigh Dineen say they will remain in their club roles.
"We believe we have a proposal which will help Swansea City progress both on and off the field," Jenkins said in the statement.
Swansea is currently owned by a number of parties, including the Swansea City Supporters Trust. The potential stake that the investors are looking to buy has not been reported.