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At least PSG won today...
But.. Thats not really an exciting achievement when the league had already been won
But.. Thats not really an exciting achievement when the league had already been won
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Swansea City to be taken over by American investors in stunning deal worth up to £100m
Swansea City are finalising a deal with American investors that could be worth as much as £100m, WalesOnline can reveal.
And it includes:
*PLANS to push ahead with the purchase and expansion of the Liberty Stadium
*AIMS to provide finance to invest in the playing squad this summer and improve club infrastructure
*KEEPING chairman Huw Jenkins in his frontline role at the club
*PROTECTING the club’s unique set-up at Premier League level with the Supporters Trust retaining both their share and their seat on the board
It is understood secret, top-level talks have been going on for more than a year to finalise a deal that would spearhead the club’s Premier League ambitions on and off the pitch.
And it is believed the deal will see current individual shareholders sell their stakes to an American investment group who will then become majority shareholders. There are no suggestions of a leveraged buy-out with no debt attached to Swansea as a result of the deal.
Trust retains stake
It will see many of the board members credited with saving the club in 2002 leaving their roles, although some are expected to retain a small percentage of shares.
Crucially, the club’s Supporters Trust’s existing position will remain the same, retaining both their 21% stake and their representative on the board with the new owners keen not to lose the connection between fans and decision-makers at the highest level.
And Trust board members met with one of the figureheads for the American group before this afternoon’s Premier League clash with Chelsea, a move the Americans regarded as essential ahead of the deal being rubber stamped.
The investment group are being led by successful US businessmen Jason Levien and Stephen Kaplan, both of whom have an extensive sporting background with Levien Managing General Owner at Major League Soccer outfit DC United and Kaplan a shareholder in NBA franchise Memphis Grizzlies.
Kaplan and Levien background
Kaplan is part of the Oaktree Capital investment group, a global venture capitalist group with a string of blue-chip companies in their portfolio while former Harvard lecturer Levien has also held roles at the Philadelphia 76ers and the Grizzlies having brokered multi-million pound contracts as an NBA agent beforehand.
However, despite the pair’s sporting experience which they aim to utilise to aim the club’s ambitions of growth, part of the deal will see Jenkins - highly regarded by the Americans - continue in his current role as the Swans’ focal point, effectively a chief executive and sporting director.
Despite struggles on the pitch this season, Swansea have won universal praise for the manner in which they have risen from financial disaster and the brink of relegation from the Football League, their refusal to jeopardise the future of the club part of their remit but not restricting ambition.
They have done this with the Trust as part of all boardroom decisions, and it is thought the stability and structure of the Swans is a major factor behind the US group’s eagerness to invest, snubbing opportunities at rival Premier League clubs in the process.
There is still the need for the Premier League to ratify the deal – such as the need to satisfy the fit and proper persons test – but fans have been reassured the investors are eager for the club to continue in the same vein with the Trust on board and they are not about to change the careful way in which the club has been run, including on matters such as ticket prices. The Trust have long maintained they would seek to consult with their members should a takeover scenario emerge.
Infrastructure investment
The Trust have long maintained they would seek to consult with their members should a takeover scenario emerge.
However, it is thought the group have the access to funds - via direct investment rather than loans against the club - to be able to significantly boost the club’s transfer budget in a bid to continue the incredible strides made over the past decade and ensure that they can remain competitive in the Premier League.
Furthermore, investment is also expected to be made in the club’s infrastructure which has also made rapid progress following the build of the club’s new training ground and top-grade academy site.
It is thought the terms are far more favourable for both the club and the Trust than those put on the table by US pair Charles Noell and John Jay Moores after negotiations over a share sale, revealed by WalesOnline in October 2014. The Trust voiced their opposition to that potential deal before talks collapsed in February the following year.
It has been an open secret that the current board and shareholders have been open to the possibility of seeking new investment after 14 years at the helm, aware that the club has reached a point where it now needs a new support to allow it to grow and take full advantage of its unprecedented elite level status.
Taking Swans to next level
Such issues have been illustrated at times this year with the money set aside to fund the academy development and the building of the first-team training ground restricting playing budget while expansion plans have been put on hold several times after plans were first mooted.
Individuals are set to benefit from the share sale having purchased original shares when the club was recovering from the Tony Petty era. It is not clear how much the US group are paying for shares, though the last offer valued the club at around £100m.
The group see their takeover as a long-term investment, with purchasing and expanding the stadium a key part of being able to grow the fan base and help boost plans of taking the club to the next level.
These refs are letting Citeh get away with everything . They also missed a pk on Mangala earlier for jumping on a player in the box
its amazing how City is still top 4So this is what it feels like to win two league games in a row...we haven't don't that in months lol since October to be exact.
By the grace of the soccer gawdsits amazing how City is still top 4So this is what it feels like to win two league games in a row...we haven't don't that in months lol since October to be exact.
I doubt he doesBalo was hyped up from the beginning for no reason. Till this day, I have yet to see him take on a defender one on one and dribble past him
He's good at penalty kicks. I'll give him that
Curious to see if he'll make the squad for euro 16