The Swansea City Supporters Trust notes stories in the media this evening regarding a potential takeover of Swansea City Football Club, which is described as imminent.
Representatives of the Supporters Trust met with the American businessman Jason Levien for the first time this morning. Mr Levien is representing a consortium of potential investors, including Steve Kaplan, who are interested in purchasing shares in the football club.
This was very much a preliminary meeting and whilst constructive, it would be highly premature for us to reach any conclusion on whether such a sale on the terms proposed would be in the best interest of the football club and its supporters.
We received assurances from Mr Levien that the consortium were keen to engage and work collaboratively with the Trust and supporters to progress the football club, but at this stage we have not had the opportunity to review in detail the terms of the proposed transaction. The Trust is disappointed that it was not provided with more time to consider the merits of the deal prior to it being made public.
The Supporters Trust also met with a number of the other club shareholders this morning. Following that meeting, we understand that this transaction is far from concluded and that we are not the only shareholder who has been kept at arms length from negotiations to date.
The Supporters Trust can confirm that it has not in receipt of any offer from the consortium for the purchase of any of the Trust’s shares in the football club and at this stage is not anticipating any such offer to be made. As we made clear over a year ago when the club was last approached by potential purchasers, the Trust would need to consult its members in the event such an offer was made.
As articles in the media have reported, it is common knowledge that some shareholders in the club have been actively working to identify potential purchasers for their shares in the football club. As an organisation – and as we talked about earlier in the week – we are aware of the need for investment in the club.
The focus of the Trust continues to be representing the best interests of the football club and its supporters in any such discussions.
Trust Chairman Phil Sumbler commented:
We have been aware of the terms of the potential deal for around two weeks. It has become apparent though that the discussions have been taking place since December and not all shareholders have been allowed to be part of those discussions.
As we understood from two meetings I attended this morning we are not near the conclusion that this announcement suggests and we are surprised that the information was released without the consent of all shareholders.”
A further statement will be issued in due course.