Football League World
·23 November 2024
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·23 November 2024
Swansea City's new owners are set to invest in the club following their takeover of the Championship side
Swansea City’s new owners are expected to invest £20 million into the club following the completion of their purchase of the Championship side.
According to Wales Online though, this money is unlikely to boost the Swans’ transfer budget ahead of the January transfer window.
An agreement was reached between a new investment group and the previous owners Jason Levien, Jake Silverstein and Steve Kaplan earlier this month.
That agreement has now been ratified, with chairman Andy Coleman a part of the group that now owns a significant stake in the club.
It has been reported by the BBC that Coleman, alongside fellow Americans Brett Cravatt and Jason Cohen, now hold a 77.4 per cent stake in Swansea, with another 14 per cent owned by Briton Jordan Morris, while the supporters trust have retained up to 7.5 per cent.
The club have released a statement regarding the £20 million investment that is set to arrive following this takeover deal.
They have claimed that it will be used to bring greater stability to the Welsh outfit, and that it will be used to cover operating costs for the foreseeable future.
"This new funding provides the club an important foundation of stability, will cover the operating costs of the club for the foreseeable future, and enable strategic investments in the first team,” wrote the club, via the club’s official website.
"The new ownership group is committed to continuing to build around the Swansea Way football philosophy and ensuring alignment from the first team through the Academy.
"There will be a strong emphasis placed on making data driven decisions that support the club both on the pitch and in its player recruitment efforts.
"The club is creating a durable infrastructure to support a high-performing first team and Academy environment.
“And it is committed to developing a self-sustaining model for women’s and girls’ football that allows the game to grow and thrive while providing new opportunities for girls across Wales to play the game they love.
"Swansea City is more than football and finance, it is a community institution and leader, and the collective investment group recognise the important position this club has in this city.
“Community will always be at the heart of what we do."
Swansea have been in the Championship since their 2018 relegation from the Premier League.
The Swans have come close to earning their place back in the top flight in the years since, most notably losing the play-off final under Steve Cooper in 2021.
It has been a difficult few years for the club since, coming 15th, 10th and 14th in the table in the last three campaigns.
Luke Williams’ side will be hoping to improve on that 14th place finish, and perhaps this change in ownership can aid with those ambitions.
Swansea have become a bit stagnant in the years since that 2021 play-off defeat, losing their place as a team that can realistically fight for promotion.
But this change in ownership will bring with it some optimism that a reset can be made, with a view towards climbing back up the pecking order in the division.
It will be difficult for an immediate impact to be made, but a sizable January transfer kitty could have been one way to do that.
However, waiting until the summer might be the wiser choice, as it gives the new ownership time to make wider changes behind the scenes in the lead-up to a new campaign next year - it will still be disappointing for Williams though, who would be wanting to strengthen his squad ahead of the final few months of the season.