Swansea City confirm takeover by US investors

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.

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".

Swansea said the takeover was expected to be fully sanctioned by the Premier League in the coming weeks.

"Jason and Steve have vast experience in running sporting franchises in America," said Swansea on their webstie.

"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."

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.