- Associated Press - Sunday, June 5, 2016

SWANSEA, Wales (AP) - American investors have completed their takeover of English Premier League club Swansea.

Swansea said Sunday the consortium “has acquired a controlling majority of the shares” of the club - reported in the British media to be 60 percent - following a lengthy negotiation process. The consortium is fronted by Steve Kaplan, a minority owner and executive vice-chairman of the NBA’s Memphis Grizzlies, and Jason Levien, a part-owner of MLS team DC United.

The deal is yet to be sanctioned by the Premier League. Financial details weren’t disclosed.

Swansea said in a statement that Kaplan and Levien “see the takeover of Swansea City as an exciting opportunity for long-term growth in the club in every area.”

Swansea has been in the Premier League since 2011.

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