Swansea City’s Majority Owners Commencing Sale of Their Stake

Jason Levien and Steve Kaplan, the majority owners of Swansea City, who oversaw the club’s relegation from the Premier League in 2018, are currently in the process of divesting their interest in the club. The buyers include existing shareholders Andy Coleman, Brett Cravatt, and Nigel Morris, along with businessman Jason Cohen. The American duo, Levien and Kaplan, initially acquired a 68% stake in Swansea in 2016, when the club was still in the Premier League. This transaction valued Swansea at approximately £100m to £110m. They subsequently increased their majority shareholding in the club, which was relegated to the Championship in 2018. Levien and Kaplan are now proceeding with the sale of this stake to current chairman Coleman, Cravatt, Morris, and Cohen, who is a business associate of Cravatt’s. Coleman assumed the role of Swansea’s chairman in May 2023, at which time he also purchased a “significant shareholding” in the Welsh club. Last year, Cravatt, an American businessman, and Morris, a British businessman, both made investments in the club. The agreement for the purchase of Levien and Kaplan’s stake is contingent upon approval from the English Football League. BBC Sport Wales reports an understanding that Levien and Kaplan are expected to incur a significant financial loss on their initial investment in Swansea. In an interview with The Athletic, Cravatt confirmed that he, Coleman, Morris, and Cohen are acquiring the remaining shares held by Levien, Kaplan, and their investors. Coleman indicated that this change in ownership could inject more than £20m into the club. “It is critically important for Swansea City to move on from the previous owners,” Coleman stated in a declaration originally provided to The Athletic. “I want to thank Brett Cravatt, Jason Cohen, Nigel Morris and our partners for coming together to make that happen. “Together we are bringing more than £20m directly into the club. This gives us a great foundation to drive Swansea City forward.” Currently, Kaplan, Levien, Coleman, and another American businessman, Jake Silverstein, collectively own 74.95% of the club, while Morris holds a 12.59% stake. The Swansea Supporters’ Trust possesses a 9.42% stake, which incorporates its protected 5% share.