January 9 – Swansea City’s majority owners have suspended talks to acquire a further 10% of the club’s shares – they currently hold 68% – while they focus “time, energy and resources” into battling relegation. The club are currently bottom of the Premier League.
American owners Steve Kaplan and Jason Levien released the statement that discussions over the Swansea City Supporter’s Trust’s 21.1% shareholding were on hold yesterday.
The plan had been for the trust to sell about 10% of its shareholding to Kaplan, Levien and chairman Huw Jenkins.
Instead the majority owners will likely spend on investing in their playing squad in the current transfer window. If the club are relegated at the end of the season – when talks over the share sale could restart – their value would likely be reduced.
But in their statement Kaplan and Levein said that they “do not want the proposed share deal to become a source of antagonism between ourselves and the Trust, especially when the club finds itself in such a challenging position on the pitch.
“Neither ourselves nor the Trust should allow any other issue to overshadow the club’s fight to maintain its Premier League status and the upcoming transfer window.”
The statement did refer to talks aimed at strengthening the relationship between the Trust and the majority owners and the deal being discussed “would have seen the Trust shares purchased on terms more preferential than those accepted by the previous shareholders in July 2016.
“However, we understand there are still areas of concern amongst members of the Trust board and the membership as a whole over the offer.”
The biggest concern though is for the Premier League future of the club in what Kaplan and Levein emphasise is an “important stage in the club’s history”.
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