American takeover of Swansea City is complete

The American takeover of Swansea City worth about £100m has been completed, subject to Premier League approval.

Jason Levien and Steve Kaplan, experienced in running US sports teams, lead a consortium which has bought a controlling stake of 60% in the club.

They must pass the league's test for prospective owners to make it official.

"Both see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area," the club said in a statement.

BBC Wales Sport revealed in April which of Swansea's directors would be selling all - or part - of their shares.

With the club now valued at about £100m, shares are believed to have increased tenfold in worth since the current board took charge in 2002.

Posted on 5th June 2016