Jason Levien and Steve Kaplan, who have been majority owners of Swansea City since acquiring a 68% stake in 2016 when the club was in the Premier League, are set to sell their controlling interest to a group consisting of existing shareholders and new investor Jason Cohen.
This original purchase, valued at around £100-£110 million, was later increased to an even larger controlling stake. However, this sale marks a significant shift in the club’s ownership structure.
The incoming group comprises chairman Andy Coleman, who took on the role and became a significant shareholder in May 2023, alongside Brett Cravatt and Nigel Morris, who both invested in the club last year. Jason Cohen, known as a business associate of Cravatt, is a new addition to the ownership team.
The transaction is still subject to the approval of the English Football League (EFL).
BBC Sport Wales reports that Levien and Kaplan will incur a substantial financial loss on their initial investment as a result of this sale.
Speaking to The Athletic, Cravatt confirmed that the group—including Coleman, Morris, and Cohen—will be acquiring the outstanding shares held by Levien, Kaplan, and their investors.
Coleman stressed the significance of this transition, indicating that it will bring more than £20 million directly into Swansea City. He underscored that this financial influx will provide a solid platform for the club’s future, facilitating growth and stability.
“It is critically important for Swansea City to move on from the previous owners,” Coleman said, expressing appreciation for the collaborative effort to achieve this outcome.
Currently, Levien, Kaplan, Coleman, and American businessman Jake Silverstein collectively hold 74.95% of Swansea City. Morris owns 12.59%, while the Swansea City Supporters’ Trust maintains a 9.42% share, including a safeguarded 5% stake in the club.
This restructuring aims to bolster the club’s financial health and align its ownership with individuals committed to sustainable development and community ties.
The move is being watched closely by fans and stakeholders who are hopeful that new investments and management strategies will enhance Swansea’s competitive edge and secure a promising future in the Championship and hopefully beyond.
Feature Image Credit: Duncan Thomas/Majestic Media