Friday 22 July 2016 00:14, UK
Swansea City's £110m takeover by American duo Steve Kaplan and Jason Levien has finally been completed.
The new majority shareholders have purchased a 60 per cent controlling stake in the Welsh club, who finished 12th in the Premier League last season.
Kaplan and Levien were forced to cancel a planned press conference on Thursday night because of late delay over a legal dispute between two shareholders; Brian Katzen and his business partner Jeffrey Crevoiserat.
But later on Thursday, the deal was announced on the Swansea City website and a statement issued by Kaplan and Levien said: "We would like to thank everybody we've met in Swansea for such a warm and friendly welcome.
"We appreciate how important the football club is to the city of Swansea and we wanted to communicate with you, the fans, our thoughts as new partners in the club.
"A number of people have asked us why the Premier League and why Swansea City? Quite simply we believe the Premier League is the greatest football league in the world.
"Once we decided on the Premier League, we looked for a club that possessed a particular style of football on the pitch that we believe will give rise to sustainable long-term success.
"We also wanted to be a part of a club that was at the very heart and soul of the community in which it plays. Over the course of a year we looked at a few clubs, but as we dug down deeper, our focus always returned to the Swans.
"We are absolutely delighted some of these original shareholders have decided to continue as owners and will be our partners. Of course, Huw Jenkins and Leigh Dineen will be key members of our management team going forward.
"We also want to acknowledge the Supporters' Trust which will remain a significant shareholder in the club. We have reached out to the Supporters' Trust and met with them on many occasions and we look forward to working with them as our partners in helping to move the club forward.
"We look forward to meeting as many of you as possible in person over the coming weeks and months and to another successful season for the Swans. Cheers, Stephen Kaplan and Jason Levien."
The Premier League ratified the proposed deal for Kaplan and Levien to purchase a controlling interest in Swansea on July 1.
On its completion, the Swansea City Supporters' Trust will remain as the second largest shareholder with 21.1 per cent.
Chairman Huw Jenkins and vice-chairman Leigh Dineen will remain in their roles, but keep a reduced part of their holdings in the club which are 13.2 per cent and 5.3 per cent respectively.
