They were saved from the brink of bankruptcy and only avoided dropping out of the football league entirely during a nail biting final match of the season.
Now they are among footballโs elite clubs welcoming the likes of Manchester Unites and Chelsea to their home ground.
Theyโre the ups and downs that a leading football author and journalist claims have given Swansea City a โromanticโ reputation around the world.
The clubโs meteoric rise was led by former Wales boss and free scoring Liverpool striker John Toshack.
But after two seasons at the top the club dropped down the divisions again and 10 years ago was saved from bankruptcy by a local consortium.
The teamโs fans had to depend on a nail-biting last match of the season win against Hull City to avoid going out of league football.
After all that, the Swansโ much admired pass and move game saw them rise once again last to British footballโs top tier at their new ยฃ27m Liberty Stadium home.
They are now a globally recognised outfit, with millions of Scandinavians tuning in to games every weekend to follow the fortunes of Danish manager Michael Laudrup.
The club is now also building a following in southwest Asia where fans follow 23-year-old Korean midfielder Ki Sung-Yueng who is happily ensconced in a high-rise Meridian Quay flat overlooking Swansea Bay.
Hunter said: โIโm of an age which means the Swans are a romantic football name.
โI was about 13 when they started their rise under John Toshack, with whom Iโm friendly and often work with.
โWhat they achieved at the old Vetch Field was immensely thrilling.
โIn those days Swansea used one or two players who I liked hugely: people like Leighton James, Tommy Craig, an ex-Aberdeen player, which is my team, and of course the mighty Tommy Hutchison – for a long time my favourite player.โ
More recently, Hunter said he has taken notice of the Swansea City name once again, thanks to former manager Brendan Rodgers and current manager, former Barcelona legend Laudrup.
He said: “Just before he joined Swansea, Brendan Rodgers got in touch with me a lot in the 2008/9 season because he was keen to come over and study Pep Guardiolaโs training methods at Barcelona.
โMichael Laudrup is another guy Iโve worked with, respect and who was a player of undervalued genius.
โI hope he gets the results his football deserves.โ
Hunter said he was โdelightedโ to be part of the Dylan Thomas Festival which runs until November 9.
Before his speech at the Dylan Thomas Centre, at which he discussed the similarities between the philosophies of Barcelona and Swansea City, he said: โItโs a privilege that a festival as prestigious as this has extended its vista to include my work.โ
Nick Bradley, of Swansea council, said: โWeโre delighted that a sports writer of Grahamโs calibre has been part of this yearโs Dylan Thomas Festival.
โFC Barcelona is known for its unique footballing style which has seen the team dominate the world game.
“But from a local point of view, Swansea City FC has adopted a similar playing approach that’s fantastic to watch.โ
The inclusion of a football writer in the Dylan Thomas Centre was a nod to the fact Swansea City is this year celebrating its centenary.
It was 100 years ago this September the club had its first professional match against perennial rivals Cardiff City. The match ended 1-1 at the Vetch Field